Celsius and Core Scientific reach tentative $45 million agreement to resolve legal dispute

Odaily Planet Daily News Crypto lending company Celsius and Bitcoin mining company Core Scientific have reached a tentative agreement worth $45 million to resolve a long-standing legal dispute, according to documents filed in court on Thursday. Under the agreement, Celsius will pay $14 million in cash and the remainder in the form of adjusted claims; Celsius will also acquire the 85-acre Cedarvale mine in Texas. The agreement must be approved by judges in Texas and New York, jurisdictions where Core and Celsius have filed for bankruptcy. It is reported that after Core shut down Celsius’ mining machines in January this year due to non-payment of electricity bills, Celsius claimed US$312 million and filed a motion claiming that Core should be held in contempt of court. (CoinDesk)