Bankrupt Core Scientific Will Shut Down 37,000 Mining Installations

Bankrupt Core Scientific will shut down 37,000 mining installations

Mining company Core Scientific, which filed for bankruptcy in late 2022, will shut down more than 37,000 mining rigs that belonged to another bankrupt cryptocurrency company, Celsius Network. Bloomberg writes this, citing legal representatives of Core Scientific.

Celsius reportedly made a partial commitment to cover Core Scientific’s power costs before the bankruptcy. In exchange, the miner hosted Celsius’ cryptocurrency mining devices. However, after Celsius went bankrupt in July 2022, the company stopped fulfilling its part of the agreement. Celsius Network reportedly owed Core Scientific at least $7.8 million. Shutting down the mining units will help the company save thousands of dollars every day.

According to Bloomberg, more than 40 percent (100,000) of Core Scientific’s mining rigs belong to the company’s customers, not the miner. Luxor Technologies Chief Operating Officer Ethan Vera believes the court’s decision to side with Core Scientific will help the bankrupt company avoid surprise actions from customers.

Meanwhile, the mining provider is expected to receive $37.5 million from creditors as early as January. Creditor representative Chris Hansen told the court that existing stakeholders continue to believe in the long-term viability of Core Scientific, despite the company’s recent problems and the drop in the price of bitcoin. The company is still generating profits, but not enough to cover debts owed to creditors

Core Scientific first became aware of Core Scientific’s problems in late October 2022. At that time, the company said it could run out of funds by the end of 2022. At that time the miner had only 24 BTC and about $26.6 million in cash. According to the miner, the difficult situation was caused by a long-term decline in bitcoin prices, an increase in energy costs, the increase in the hashing rate of the global bitcoin network and the lawsuit against cryptocurrency lender Celsius.


B2BROKER liquidity and technology provider has updated branding and transferred the site to the B2BROKER domain.Com

B2BROKER liquidity and technology provider has updated branding and transferred the site to the B2BROKER domain.Com

In early October, the liquidity and technology provider for cryptocurrency and brokerage companies B2BROKER rebranded and updated the B2BROKER website.Com. This was reported in the press release of the company.

The purpose of the update is to create an online resource with the most understandable description of the B2BROKER products and convenient navigation so that potential and existing customers can immerse themselves in the life of the company.

“Coronavirus pandemia changed the interaction of business and users: meetings have moved to online. This reality has become the main incentive for upgrade and rebranding the company. On the new site, we “laid out products for molecules” – described them in detail and showed interfaces, ”comments CEO and B2BROKER founder Arthur Azizov.

The company added information about employees to the site, and also complemented the list of products presented and expanded their description. When working on the site, B2BROKER used the data obtained during internal marketing research and feedback collection from customers and employees of the company.

“B2BROKER provides financial services for brokerage companies and exchanges for more than six years. Over this time, we collected information about the needs of customers. The Big Data obtained became the basis for the most effective web resource, ”says Arthur Azizov.

According to B2BROKER, visitors to the site can get the necessary information without talking with the manager. On B2BROKER.Com appeared:

  • Detailed descriptions of B2BROKER services and technologies;
  • the ability to study the interface of each product;
  • UX design developed taking into account the needs of customers;
  • School of brokers – a section with educational materials and useful information for brokers;
  • Section about the mission and principles of B2BROKER Work.

In addition, the company updated the brand and introduced a new logo.

The new B2broker logo consists of nine circles that symbolize nine main products of the company:

  • Personal Account B2core;
  • cryptocurrency, forex and CFD-agility;
  • A partner program for the White Label MT4 and MT5 brokers;
  • investment platform for launching PAMM accounts and social trading;
  • B2TRADER trading platform;
  • B2Margin margin platform;
  • Cryptopronsing;
  • Set of services for launching crypto -tires;
  • Service for launching a cryptro.

According to B2BROKER, branding updating is an important stage in the way of global development of the company:

“We are constantly developing: we update the products to comply with the latest world trends and expand the presence of the company in respectable jurisdictions. Rebranding and launching a new site bring us closer to these goals «.

B2BROKER is a liquidity and technological solution for online trading with headquarters in Moscow and offices in Hong Kong, Limassol, London, Minsk and St. Petersburg. B2BROKER products use 250 institutional customers from 40 countries: brokerage companies, exchanges, hedge funds from traditional and cryptocurrency markets.

Recall that in early September, the B2B Payment Solutions fintech project, which is part of the Group of Companies of the liquidity and technology provider for B2broker brokers and exchanges, received the FCA Aemi license.

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