- Operating approximately 225,000 owned and colocated ASIC
servers
- Produced 1,334 self-mined bitcoins
Core Scientific, Inc. (NASDAQ: CORZ) ("Core Scientific"
or “the Company”), a leader in high-performance blockchain
computing data centers and software solutions, today announced
production and operational updates for August 2022.
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the full release here:
https://www.businesswire.com/news/home/20220906005393/en/
Core Scientific's Marble, NC Data Center
(Graphic: Business Wire)
“Self-mining and colocation activities continued to grow in
August. We deployed more than 25,000 new ASIC servers in August,
increasing our total hashrate to over 21 EH/s. Both our total
hashrate and self-mining hashrate represent the largest operating
capacity of any listed company in North America,” said Mike Levitt,
Core Scientific Chief Executive Officer.
Data Centers
As of month end, the Company operated 225,451 ASIC servers for
both colocation and self-mining, representing a total of 21.54
EH/s. The Company’s Georgia, Kentucky, North Carolina, and North
Dakota data center facilities continue to operate at capacity. The
Company is continuing to build additional capacity in Texas.
Self-Mining
Core Scientific’s self-mining operations produced 1,334 bitcoins
in August. Self-mining bitcoin production benefited from the
deployment of approximately 17,000 new servers during the month.
Increased curtailment activity across multiple data centers limited
production advances.
The Company expanded its fleet of self-mining servers during the
month to 127,716, increasing hashrate to 12.69 EH/s. The Company
expects to deploy approximately 43,000 additional self-mining ASIC
servers before the end of 2022. As of August month end, self-mining
accounted for approximately 59% of the Company’s total
hashrate.
Colocation Services
In addition to its self-mining fleet, as of August 31, 2022,
Core Scientific provided data center colocation services,
technology and operating support for more than 97,000
customer-owned ASIC servers. As of August month end, colocation
services accounted for approximately 41% of the Company’s total
hashrate. Inquiries for colocation services continue to exceed the
Company’s available infrastructure.
Bitcoin Sales and Liquidity
During the month of August, the Company sold 1,125 bitcoins at
an average price of $23,014 per bitcoin for total proceeds of
approximately $25.9 million. As of August 31, 2022, the Company
held 1,409 bitcoins and approximately $47.2 million in cash.
Grid Support
In the month of August, the Company powered down its Texas and
other data center operations on several occasions. Curtailments in
August totaled 11,057 megawatt hours. Core Scientific works with
the communities and utility companies in which it operates to
enhance electrical grid stability.
Investor Conferences
Core Scientific’s management will be participating in the
following investor conferences in the month of September:
- H.C. Wainwright 24th Annual Global Investment Conference on
September 12-14
- BTIG 2nd Annual Digital Assets Conference on September
19-20
- B. Riley Securities 2nd Annual Crypto Conference on September
29
- Bank of America Virtual Crypto Mining Day on September 29
The times and links to live webcasts and replays of available
management presentations will be provided in the Investor Relations
section of the Core Scientific website:
https://investors.corescientific.com/investors/events-and-presentations/default.aspx
Replays of available webcasts will be available for 30 days.
ABOUT CORE SCIENTIFIC
Core Scientific is one of the largest publicly traded blockchain
computing data center providers and miners of digital assets in
North America. Core Scientific has operated blockchain computing
data centers in North America since 2017, using its facilities and
intellectual property portfolio for colocated digital asset mining
and self-mining. Core Scientific operates data centers in Georgia,
Kentucky, North Carolina, North Dakota and Texas, and expects to
commence operations in Oklahoma in the next few quarters. Core
Scientific’s proprietary Minder® fleet management software combines
the Company’s colocation expertise with data analytics to deliver
maximum uptime, alerting, monitoring and management of all miners
in the Company’s network. To learn more, visit
http://www.corescientific.com.
FORWARD-LOOKING STATEMENTS AND EXPLANATORY NOTES
This press release includes “forward-looking statements'' within
the meaning of the “safe harbor” provisions of the United States
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. These
forward-looking statements include, but are not limited to, those
related to the Company’s ability to scale and grow its business,
meet its 2022 operating plan, source clean and renewable energy,
the advantages and expected growth of the Company, future estimates
of revenue, net income, adjusted EBITDA, total debt, free cash
flow, liquidity and future financing availability, future estimates
of computing capacity and operating capacity, future demand for
colocation capacity, future estimate of hashrate (including mix of
self-mining and colocation) and operating gigawatts, future
projects in construction or negotiation and future expectations of
operation location, orders for miners and critical infrastructure,
future estimates of self-mining capacity, the public float of the
Company’s shares, future infrastructure additions and their
operational capacity, and operating capacity and site features of
the Company’s operations and planned operations in Texas and
Oklahoma. These statements are provided for illustrative purposes
only and are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of the Company’s management. These forward-looking statements are
not intended to serve, and must not be relied on by any investor,
as a guarantee, an assurance, a prediction or a definitive
statement of fact or probability. Actual events and circumstances
are difficult or impossible to predict and will differ from
assumptions. Many actual events and circumstances are beyond the
control of the Company. These forward-looking statements are
subject to a number of risks and uncertainties, including those
identified in the Company’s reports filed with the U.S. Securities
& Exchange Commission, and if any of these risks materialize or
our assumptions prove incorrect, actual results could differ
materially from the results implied by these forward-looking
statements. Accordingly, undue reliance should not be placed upon
the forward-looking statements.
Month over month comparisons are based on the combined results
of Core Scientific and its acquired entities and are unaudited.
Core Scientific provides this and any future similar unaudited
updates to provide shareholders with visibility into the Company’s
results and progress toward previously announced capacity and
operational projections.
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version on businesswire.com: https://www.businesswire.com/news/home/20220906005393/en/
Investors: Steven Gitlin ir@corescientific.com
Media: press@corescientific.com
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