Core Scientific to Expand its Denton, Texas Bitcoin Mining Data Center by 72 Megawatts
-
Completion of partially built structures will increase total operational infrastructure at
Denton data center to 197 MW, total Company-owned infrastructure to 817 MW - Completion expected by end of second quarter 2024
- Expansion highlights strategic advantage of owning and controlling infrastructure and access to power
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240416234757/en/
Core Scientific is a leader in bitcoin mining and application-specific digital infrastructure for emerging high-value compute (Graphic: Business Wire)
“Owning and controlling all of our infrastructure with access to ready power gives us the strategic optionality to expand our mining capacity, deploy upgrades to our proprietary mining technology stack, reallocate miners to optimize for efficiency and even flex to alternative forms of compute when such opportunities arise,” said
In addition to its 745-megawatts of operational infrastructure, Core Scientific owns 372 megawatts of partially built infrastructure at its two
Core Scientific’s
Core Scientific data centers representing more than 500 megawatts of operational bitcoin mining infrastructure are qualified to host alternative forms of compute, based on the Company’s flexible facility designs, their proximity to major metropolitan areas and access to high bandwidth fiber telecommunications infrastructure. The Company believes that the cost to convert some of its bitcoin mining infrastructure to alternative compute hosting is lower than for new construction and its completion time could be as much as 50% faster, delivering strong financial benefits to high-performance computing hosting clients.
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20240416234757/en/
Investors:
ir@corescientific.com
Media:
press@corescientific.com
Source: Core Scientific, Inc.