Core Scientific, a US-based blockchain infrastructure provider, has rejected a multi-million-dollar administrative claim from Celsius Network. The claim was made by Celsius Network for damages incurred due to a power outage at Core Scientific’s data center in Kentucky in February 2021.
Core Scientific has argued that Celsius Network owes them an even higher amount for unpaid bills and damages caused by the power outage. The company claims that Celsius Network had not paid for the full amount of power it was using at the data center and had also caused damage to the equipment during the outage.
The dispute between the two companies highlights the challenges faced by companies operating in the crypto industry, where there is often a lack of clear regulations and established legal frameworks.
In response to the rejection of its claim, Celsius Network has stated that it will pursue legal action against Core Scientific. The outcome of this legal battle could have significant implications for the wider crypto industry, as it may set a precedent for how disputes between companies are resolved in the absence of clear regulations.
In summary, Core Scientific’s rejection of Celsius Network’s multi-million-dollar administrative claim highlights the challenges faced by companies operating in the crypto industry. The dispute between the two companies may have significant implications for the wider industry, as it may set a precedent for how disputes are resolved in the absence of clear regulations.