Core Scientific sends $ 20 million mining equipment to settle payment disputes

Veröffentlicht:

Von: Krypto News Österreich

Das Insolvenzgericht der Vereinigten Staaten für den südlichen Bezirk von Texas hat Core Scientific angewiesen, Bergbauausrüstung im Wert von etwa 20,8 Millionen US-Dollar an das Energieinfrastrukturunternehmen Priority Power zu übertragen. Die Unternehmen hatten einen Streit um zwei in Texas gelegene Bergbauanlagen, die Core Scientific mit 1.000 Megawatt Strom versorgen sollten. Die Entscheidung des Richters Der am Insolvenzverfahren von Core Scientific beteiligte Richter – David Jones – bestellt das Unternehmen, Elektrogeräte im Wert von mehr als 20 Millionen US-Dollar an Priority Power Management (PPM) zu übertragen und damit den Streit zwischen den beiden beizulegen. „Gegebenenfalls werden alle Anteile der Schuldner an …
The Insolvency Court of the United States for the southern district of Texas has instructed Core Scientific to transfer mining equipment worth around $ 20.8 million to the energy infrastructure company Priority Power. The companies had a dispute over two mining facilities in Texas, which Core Scientific should supply electricity with 1,000 megawatts. The decision of the judge involved in the insolvency proceedings of Core Scientific-David Jones-orders the company to transfer electrical appliances worth more than $ 20 million to Priority Power Management (PPM) and thus to add the dispute between the two. “If necessary, all shares of the debtors will be in ... (Symbolbild/KNAT)

The Insolvency Court of the United States for the southern district of Texas has instructed Core Scientific to transfer mining equipment worth around $ 20.8 million to the energy infrastructure company Priority Power.

The companies had a dispute over two mining facilities in Texas that were supposed to supply Core Scientific with 1,000 megawatts of electricity.

The decision of the judge

The judge involved in the insolvency proceedings of Core Scientific-David Jones- ordered To transfer priority power management (ppm) and thus to settle the dispute between the two.

"If necessary, all shares of the debtors in the equipment described in Appendix A of this decision are transferred to PPM" Frei and unambiguously "to PPM.

in relation to the part of this equipment, which was delivered in Annex A of the Term Sheet and either installed or installed in the Cottonwood system or the Cedarvale system, PPM has the right to get it back at its own expense and costs of PPM without further arrangement of this court, "says the Explanation.

The energy negotiator previously claimed that Core Scientific $b for around $ 30 million for the services provided before the bankruptcy application.

The cryptocurrency-miner priority power in summer 2021 as his "exclusive energy manager and consultant". Apart from the handling of electricity contracts, the company was supposedly obliged to build two mining systems in the west of Texas.

Michael Bros., Managing Director of Core Scientific, said his company hired the payment of Priority Power after realizing that the locations would remain without the necessary energy load.

It is worth noting that the miner stopped other debt payments towards the end of 2022 by the crypto winter and the falling prices for digital assets, especially Bitcoin. It has sold most of its BTC stocks in the past few months and for bankruptcy protection according to Chapter 11.

The latest forays

Despite the bankruptcy, Core Scientific promised to continue to dig Bitcoin in order to repay the debtors. It produces 1.435 BTC in December and increased its self-mining hashrates from 15.4 eh/s.

The company tried to fix some of its problems by backup a 500 million dollar donation at the end of January. Several giants in the financial sector, including Blackrock, Apollo Capital Management and Ibex Investors, led the financing.

Scientific core Translated In early February over 27,000 of its mining machines (18 % of its overall fleet) to the New York Digital Investment Group (NYDIG) to pay out the outstanding guilt of $ 38.6 million

.