Core Scientific Announces February 2024 Production and Operations Updates
- Operated approximately 222,000 owned and hosted bitcoin miners
- Earned 893 self-mined bitcoin and our customers earned an estimated 307 bitcoin in our data centers in February
- Increased self-mining hash rate by redeploying previous generation miners
- Completed all payments due in 2024 for previously announced miner orders
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240305231273/en/
Core Scientific designs its data centers with heat aisles to optimize miner performance without HVAC systems (Photo: Business Wire)
“Owning our own infrastructure provides us with strategic flexibility to respond rapidly to dynamic market conditions,” said
“From a capital expenditures perspective, we continue to manage our investments carefully to ensure our ongoing financial strength. To that end, we completed all miner payments due in 2024 for the S19j XPs and S21s we previously announced, enabling us to focus our remaining investments this year on new miner purchases and our organic infrastructure growth plans,”
Key Metrics Summary
Metric |
|
|
Self-Mining Bitcoin Earned1 |
893 |
1,027 |
Hosting Bitcoin Earned by Customers2 |
307 |
354 |
Average Self-Mined Bitcoin Earned/Day |
30.8 |
33.1 |
Self-Mining Energized Hash rate3 |
18.9 |
18.6 |
Hosting Energized Hash rate4 |
6.2 |
6.2 |
Total Energized Hash rate |
25.1 |
24.8 |
Bitcoin Sold |
952 |
1,114 |
Bitcoin Sales Proceeds ($USD) |
Appx. |
Appx. |
Average Self-Mining Fleet Efficiency (J/TH)5 |
26.79 |
26.44 |
Data Centers
As of month-end, the Company operated approximately 222,000 bitcoin miners for both self-mining and hosting, representing a total energized hash rate of 25.1 EH/s at its data centers in
Self-Mining
Core Scientific earned 893 bitcoin in February from its owned fleet of miners. As of month end, the Company operated approximately 171,000 owned bitcoin miners, accounting for approximately 77% of its total number of miners and representing a total energized hash rate of 18.9 EH/s.
Hosting Services
In addition to its self-mining fleet, Core Scientific provided data center hosting services, technology and operating support for approximately 51,000 hosted, customer-owned bitcoin miners, representing approximately 23% of the bitcoin miners operating in the Company’s data centers as of
Grid Support
The Company reduced the consumption of power at its data centers on several occasions in February, delivering 941 megawatt hours to local grid partners. By supporting the grid in such a fashion, Core Scientific helps grid operators keep power flowing to their customers when temperatures rise and air conditioning use increases, and when temperatures drop and heating use increases. Core Scientific works with utility companies and the communities in which it operates to enhance electrical grid stability.
New Miner Deployments
As a result of the deployment of 28,400 new S19j XP miners procured from Bitmain under a contract announced on
ABOUT CORE SCIENTIFIC
Core Scientific is one of the largest bitcoin miners and hosting solutions providers for bitcoin mining in
FORWARD LOOKING STATEMENTS AND EXPLANATORY NOTES
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. The Company’s actual results may differ materially from those anticipated in these forward-looking statements as a result of certain risks and other factors, which could include, but are not limited to, the following: risks and uncertainties relating to the Company’s ability to achieve significant cash flows from operations; the effects of the emergence from the Company’s chapter 11 cases on the Company’s liquidity, results of operations and business; the trading price and volatility of the Company’s common stock; the comparability of the Company’s post-emergence financial results to its historical results and the projections filed with the bankruptcy court in the Company’s chapter 11 cases; changes in the Company’s business strategy and performance, including as a result of changes to the Company’s board of directors or management; the possibility that the Company may be unable to achieve its business and strategic goals; the Company’s post-bankruptcy capital structure; attraction and retention of key personnel; the Company’s ability to achieve expected benefits from restructuring activities; restrictions on the Company’s operations contained in the agreements governing the Company’s indebtedness; the Company’s ability to generate sufficient cash to reduce its indebtedness and its potential need and ability to incur further indebtedness; the impact of the halving event; actions taken by third parties, including the Company’s creditors and other stakeholders, as well as other risk factors set forth in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the
Please follow us on:
https://www.linkedin.com/company/corescientific/
https://twitter.com/core_scientific
______________________
1
Self-Mining
Bitcoin Earned represents bitcoin rewards earned by bitcoin miners owned and operated by Core Scientific
2HostingBitcoin Earned represents estimated bitcoin rewards earned by hosted customer-owned miners operated by Core Scientific, including bitcoin rewards paid to the Company pursuant to proceeds sharing agreements
3Self-Mining Energized
4Hosting Energized
5Average Self-Mining Fleet Efficiency (J/TH) represents the weighted average power consumption in Joules per terahash based on the actual efficiency of each model of miner operating in Core Scientific’s owned self-mining fleet˙
View source version on businesswire.com: https://www.businesswire.com/news/home/20240305231273/en/
Investors:
ir@corescientific.com
Media:
press@corescientific.com
Source: Core Scientific, Inc.