Core Scientific, Celsius settle Texas mining site dispute with $45M deal

This comes as a result of a monthslong bankruptcy battle between Core Scientific and Celsius

article-image

PHOTOCREO Michal Bednarek/Shutterstock modified by Blockworks

share

Core Scientific has agreed to sell bankrupt crypto lender Celsius its Cedarvale mining location in Ward County, Texas for a price tag of $14 million, according to a Thursday court filing. 

The publicly traded American bitcoin miner, which itself is going through bankruptcy, has also released its $31 million worth of claims against Celsius bringing the total up to $45 million. 

“After months of negotiations, Celsius and [Core Scientific] have now consensually resolved their long-running disputes and agreed to a global settlement that will fully resolve this litigation,” the court filing stated.  

This agreement needs to be approved by the court before it’s made official.

The mining site that Celsius acquired from Core Scientific will be “a key component of Celsius’ reorganized mining business under its Plan.”

Read more: Ex-Celsius executive pleads guilty to four charges

Celsius stands to gain a “partially-developed, non-operational” mining site with 215 megawatts of available power. Additionally, Core Scientific will be handing over the designs to the site so Celsius can complete construction, according to a press release.

Core Scientific used to host 37,000 of Celsius Mining’s bitcoin rigs. And when Celsius, the parent company, descended into bankruptcy in July 2022, Celsius Mining began to default on fee payments and power bills, according to Core Scientific.

It ended its hosting agreement with Celsius in January 2023, and this latest development essentially wraps up the battle between the two.

Core Scientific CEO Adam Sullivan said he was pleased to resolve “all existing litigation” with Celsius Mining, and reiterated that he is planning for his company to emerge from restructuring later this year.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (1).jpg

Research

As AI supercharges surveillance, privacy becomes a prerequisite and the winning stack will combine confidentiality with selective disclosure. Zcash’s Tachyon, composable standards on Ethereum/Solana, and compliance-aware pools aim to make private rails the new norm.

article-image

The derivatives giant will extend futures and options access to round-the-clock trading in early 2026

by Blockworks /
article-image

Global fiber network goes live as SEC clears 2Z token for utility use

by Blockworks /
article-image

The SPAC transaction positions Avalanche Treasury Co. as a Nasdaq-listed vehicle for institutional AVAX exposure by 2026

by Blockworks /
article-image

The collaboration brings regulated money market fund exposure to Polygon, with custody provided by Standard Chartered

by Blockworks /
article-image

FG Nexus teams with Securitize to bring its Nasdaq-listed equity onchain, offering tokenized stock trading through Ethereum

by Blockworks /
article-image

Sponsored

Taiko launches binding onchain governance and appoints three directors with expertise in global regulation, business strategy and blockchain tech

by Sponsored /