- Operating over 170,000 owned and colocated ASICs servers in the
Company’s data centers
- Produced over 1,100 self-mined bitcoins
Core Scientific, Inc.
(NASDAQ: CORZ) ("Core Scientific" or “the Company”), a leader in
high-performance blockchain data centers and software solutions,
today announced production and operational updates for May
2022.
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the full release here:
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Core Scientific's Calvert City, KY Data
Center (Photo: Business Wire)
“We are now operating over 170,000 high-performance ASICs
servers in our five data centers and produced 1,138 bitcoins for
our own account in May, more than any other public company in North
America,” said Mike Levitt, Core Scientific Chief Executive
Officer. “Our scale and balance sheet provide the flexibility to
continue to invest in our growth and pursue opportunities that may
arise from the recent market and industry dislocation.”
Data Centers
Core Scientific continued to develop and expand its operations
in Texas and Oklahoma, while data centers owned and operated by the
Company in Georgia, Kentucky, North Carolina and North Dakota
continued to operate as expected. As of month-end, the Company
operated a total of more than 180,000 servers of all types in its
data centers.
Self-Mining
Core Scientific’s self-mining operations produced 1,138 bitcoins
in May, averaging 36.7 bitcoins per day, a decrease from April’s
daily average of 37.4. The decrease in average daily bitcoin
production resulted primarily from Bitcoin network difficulty
increases on April 27 and May 10 totaling approximately 10 percent,
in addition to multiple curtailments in response to local grid
operations. As of May 31, 2022, the Company held 8,058 bitcoins
produced from operations.
As of May month end, Core Scientific operated its own fleet of
more than 90,000 ASICs servers, producing 9.2 EH/s.
Colocation Services
In addition to its self-mining fleet, as of May 31, 2022, Core
Scientific provided data center colocation services, technology and
operating support for a growing, diverse group of customers
representing 7.9 EH/s and more than 80,000 ASICs servers.
Grid Support
In the month of May, the Company powered-down a portion of its
data center operations in Texas on 13 occasions for a total of
1,218 megawatt hours. Core Scientific will continue to work with
the communities and utility companies in which it operates to
enable and ensure electrical grid stability.
Form 4
Darin Feinstein, Co-Chairman and one of the Company’s founding
shareholders, recently filed Form 4s regarding his sale of Company
shares. Mr. Feinstein informed the Company that the shares were
sold to provide capital to satisfy certain taxes related to the
conversion of RSUs and other liabilities. Mr. Feinstein also
informed the Company that he had completed the necessary sales.
Please refer to the Form 4s filed with the SEC for additional
information.
ABOUT CORE SCIENTIFIC
Core Scientific is one of the largest publicly traded blockchain
data center providers and miners of digital assets in North
America. Core Scientific has operated blockchain data centers in
North America since 2017, using its facilities and intellectual
property portfolio that has grown to more than 70 patents or
applications for collocated 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 second half of 2022. 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,
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 and future financing
activity, 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
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.
Year over year comparisons are based on the combined results of
Core Scientific and its acquired entities.
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.
For additional media and information, please follow
us
https://www.linkedin.com/company/corescientific/
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version on businesswire.com: https://www.businesswire.com/news/home/20220606005451/en/
Investors: Steven Gitlin ir@corescientific.com
Media: press@corescientific.com
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