reading previous news CORZ was charging its customers $0.10c/kwh electric(higher than previous months, and higher than national average electric costs) which put the costs at more then the market rate of bitcoin (unprofitable mining)
thus many customers can rightfully so. stop paying ongoing hosting contracts, and retrieve their asics via corz sending the customers asics back to the customer or forward the asics to another hosting business.
celsius was already debating with CORZ about this
https://cointelegraph.com/news/celsius-network-defaults-on-payments-to-core-scientific-causing-financial-unrestIn the court filings, Celsius alleges that Core Scientific delayed mining rig deployment and supplied them with less power than required under their contract. Celsius is reportedly seeking a court order holding Core in contempt and ordering it to fulfill its obligations. Meanwhile, Core requested the court to compel Celsius to pay past-due bills or allow it to serve the contract.
massive cost change
us national rates went from a average
$0.0744 ->$0.0861 (oct 21-oct22)
yes corz charged a
$0.0752 -> $0.0943 (2021-july 2022)
then asked for over $0.10 from august onwards
basically $0.014 extra than national average (16%)
the initial 2021 ask by coz was a 0.0752 ask which was 1.1% above average
in short corz was trying to demand an extra 15% profit for corz, while supplying celsius with less coin value thus not break even or profit compared to market rate
(celsius losing value by continuing contract but corz making excess profit by continuing contract)
anyways
there is alot more to this celsius-corz saga where it appears that corz is being shady in parts too