Core Scientific Announces January 2022 Updates
February 07 2022 - 9:10AM
Business Wire
Core Scientific Increased Self-Mining Hashrate
to 7.5 EH/s, Producing 1,077 Bitcoins in January 2022
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 production and operations updates for
January 2022.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220207005351/en/
Core Scientific is one of the largest
publicly-traded, net carbon-neutral blockchain infrastructure
providers and miners of digital assets in North America. (Graphic:
Business Wire)
“For the second month in a row, our self-mining operations
produced more than 1,000 bitcoins. We now operate over 14 EH/s
combined in our self-mining and hosting activities, and are well
positioned to continue our planned expansion,” said Mike Levitt,
Core Scientific’s Chief Executive Officer. “In response to winter
weather conditions we down-powered mining operations on average
once a week in January. We are committed to curtailing mining
activities to ensure the stability and performance of the
electrical grids in our communities.”
January Self-Mining Update
Core Scientific’s self-mining operations produced 1,077 bitcoins
in January, representing a year over year increase of 315%. As of
January 31, 2022, the Company held 6,373 bitcoins produced from
operations.
As of January month end, Core Scientific operated its own fleet
of more than 75,000 bitcoin miners, producing 7.5 EH/s.
January Hosting Update
In addition to its self-mining fleet, as of January 31, 2022,
Core Scientific provided infrastructure, technology and operating
support for a diverse group of customers representing 7.1 EH/s.
January Grid Support
In the month of January, the Company powered-down a portion of
its operations on four separate occasions. Aggregate electrical
curtailment for these events exceeded 1,100 megawatt-hours.
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 and North Dakota, and expects to
commence operations in Texas in the first half of 2022 and 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, the
Company’s ability to scale and grow its business, source clean and
renewable energy, the advantages and expected growth of the
Company. 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, 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
progress toward previously announced capacity and operational
projections.
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/20220207005351/en/
Investors: Steven Gitlin ir@corescientific.com
Media: press@corescientific.com
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