A tentative agreement to end a long-running legal dispute between crypto mining providers Celsius and Core Scientific (CORZ) has been reached, according to court documents filed on Thursday.
The agreement requires Celsius to pay $14 million in cash and the rest in adjusted claims, totaling $45 million.
The deal also gives Celsius ownership of Cedarvale, a mining site in Texas that spans 85 acres.
The settlement needs the approval of courts in Texas and New York, where Core and Celsius have filed for bankruptcy protection in their respective states.
Celsius’ lawyers said in a filing that the settlement “puts an end to the costly and lengthy litigation with Core, and avoids the significant expenses that would have been incurred if the parties had continued to fight over their claims.”
They described the deal as a “fair, equitable, and carefully negotiated resolution.”