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However, as of May 2022, after "it became clear that the [two west Texas] facilities would not receive the anticipated power load," Core Scientific stopped making various payments to Priority Power Management, Bros said. Neither firm immediately replied to CryptoX's request for comment as to why the power was not
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Swedish telecoms giant Ericsson says despite its poor Q4 2022 earnings, it sees significant patent revenue growth in the next 24 months. Ericsson recently reported a larger-than-anticipated decline in its Q4 2022 earnings statement. The Swedish telecommunications giant said its underwhelming fourth-quarter earnings are due to a slowdown in sales of
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The mining arm of crypto lender Celsius Network has issued a notice for the sale of $1.3 million worth of mining equipment as part of its bankruptcy case.In a Jan. 11 filing with the United States Bankruptcy Court of the Southern District of New York, Celsius says it will be
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Iranian authorities seized numerous crypto mining equipment over the past two years, citing stress on energy grids during winter. Now, a court ordered the release of crypto-mining equipment that was previously seized as a measure to conserve energy.Since 2021, Iran’s Organization for Collection and Sale of State-Owned Property (OCSSOP) has seized
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Celsius is not only Core's largest customer, with more than 37,000 machines hosted in its facilities, but one of its largest secured noteholders, holding about $54 million of secured convertible notes, or 10% of the total issuance, Kirkland & Ellis lawyer Chris Koenig, who represents Celsius, said in the first
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A government body responsible for state property in Iran has released some of the hardware seized from illegal crypto mining farms. Its top executive explained the agency was obliged to do that by courts in the Islamic Republic, where unlicensed miners have been blamed for power shortages. Authorities in Iran
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Crypto exchange OKX witnessed service disruptions after primary infrastructure provider Alibaba Cloud announced a hardware failure in Alibaba Cloud’s Hong Kong data center.Alibaba Cloud Hong Kong IDC Zone C server went offline on Saturday at roughly 10 PM ET and failed to recover for over 7 hours at the time
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The reason for the notice of default, which the lender sent to the miner on Nov. 4, is the company failed to engage in "good faith restructuring discussions" for the debt in question, according to a Monday filing with the U.S. Securities and Exchange Commission. Because Iris failed to engage
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Iris Energy said this week that some of its mining equipment aren't producing enough cash to meet its financing obligations. Source
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