- Operating approximately 232,000 owned and colocated ASIC servers
- Produced 1,213 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 September 2022.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221005005336/en/
Core Scientific’s Calvert City, KY Data Center (Photo: Business Wire)
“We continued growing our infrastructure and operating servers in September. Bitcoin production was impacted across the company’s data centers due to several unique circumstances, including severe weather events and electrical equipment manufacturer defects.
“Despite these challenges, Core Scientific continued to lead the industry in bitcoin production. We produced 1,213 bitcoins for our own account. We expanded our total fleet (owned and colocated) to approximately 232,000 servers representing approximately 22.5 EH/s. I am proud of our team’s resilience, adaptability and dedication in the face of difficult industry conditions,” said Mike Levitt, Core Scientific Chief Executive Officer.
Data Centers
As of month-end, the Company operated approximately 232,000 ASIC servers for both colocation and self-mining, representing a total of approximately 22.5 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 1,213 bitcoins in September, for an average of 40.4 bitcoins per day. The Company deployed approximately 2,900 new servers during the month for its self-mining operation. Curtailment activity across multiple data centers and unanticipated electrical equipment challenges limited production advances.
The Company expanded its fleet of self-mining servers during the month to approximately 130,000, increasing hashrate to approximately 13 EH/s. The Company expects to deploy approximately 38,000 additional self-mining ASIC servers before the end of 2022. As of September month end, self-mining accounted for approximately 58% of the Company’s total hashrate.
Colocation Services
In addition to its self-mining fleet, as of September 30, 2022, Core Scientific provided data center colocation services, technology and operating support for approximately 102,000 customer-owned ASIC servers representing approximately 9.5 EH/s. In September, the Company deployed approximately 8,400 new servers for its colocation customers. As of September month end, colocation services accounted for approximately 42% 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 September, the Company sold 1,576 bitcoins at an average price of $20,460 per bitcoin for total proceeds of approximately $32.2 million. As of September 30, 2022, the Company held 1,051 bitcoins and approximately $29.5 million in cash.
Grid Support
In the month of September, the Company powered down its Texas and other data center operations on several occasions. Curtailments in September totaled 8,774 megawatt hours. Core Scientific works with the communities and utility companies in which it operates to enhance electrical grid stability.
