Core Scientific Begins Reporting Daily Bitcoin Production
18 April 2022 - 11:10PM
Business Wire
- Core Scientific now reports daily production on its website,
corescientific.com.
Core Scientific, Inc. (NASDAQ: CORZ) ("Core Scientific"
or “the Company”), a leader in high-performance, net carbon neutral
blockchain infrastructure and software solutions, today announced
it has begun daily reporting of self-mined Bitcoin production on
its corporate website, corescientific.com, updated at 12:00pm EST
every morning.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220418005241/en/
Core Scientific now reports daily Bitcoin
self-mining production at www.corescientific.com (Graphic: Business
Wire)
“We believe that the daily Bitcoin production metric is one of
the most important performance measures in our industry. Sharing
daily production provides transparency to our shareholders and
other stakeholders,” said Mike Levitt, Core Scientific Chief
Executive Officer. “As market leaders, we encourage this kind of
transparency across our industry.”
Darin Feinstein, Core Scientific Co-Founder and Co-Chairman,
stated, “I have been mining Bitcoin for over a decade, during which
time the most commonly asked question has been, ‘how much Bitcoin
does your company mine on a daily basis?’ Today, we are the first
publicly traded Bitcoin mining company to report our daily
self-mined production, which is updated on our website every day at
12:00pm EST.”
ABOUT CORE SCIENTIFIC
Core Scientific is one of the largest publicly traded, net
carbon-neutral blockchain infrastructure providers and miners of
digital assets in North America. Core Scientific has operated
blockchain infrastructure in North America since 2017, using its
facilities and intellectual property portfolio that has grown to
more than 70 patents or applications for digital asset hosted
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 second half of
2022. Core Scientific’s proprietary Minder® fleet management
software combines the Company’s hosting 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.
As of September 30, 2021, over 50% of the power used in Core
Scientific’s operation was generated from non-carbon emitting
sources by local power providers pursuant to long-term power
contracts. The Company determines whether power is generated from
non-emitting energy sources from dispatch reports or grid
generation mix reports provided by the Company’s power providers.
Based on these reports Core Scientific purchased Green-e certified
renewable energy credits (“RECs”) to offset 100% of the carbon
produced as a result of its contracted power. The Company expects
to maintain its net carbon neutrality by increasing its overall use
of renewable power and by purchasing RECs when necessary.
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,
source clean and renewable energy, the advantages and expected
growth of the Company, future estimates of revenue, net income and
adjusted EBITDA, future estimates of computing capacity and
operating capacity, future demand for hosting capacity, future
estimate of hashrate (including mix of self-mining and hosting) 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
center in Denton, Texas. 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.
For additional media and information, please follow
us
https://www.linkedin.com/company/corescientific/
https://twitter.com/core_scientific
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220418005241/en/
Investors: Steven Gitlin ir@corescientific.com
Media: press@corescientific.com
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