Core

Foundry

Bitcoin

<a href="https://ultramining.com/news/en/bitcoin-mining-giant-core-scientific-prepares-for-post-bankruptcy-comeback/" rel="noopener noreferrer nofollow">Core Scientific</a>, Inc. (NASDAQ: CORZ), a leader in digital infrastructure for Bitcoin mining and high-performance computing, announced impressive <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">production</a> and operational results for July 2024. The company earned 411 self-mined Bitcoins, bringing its year-to-date total to 4,917 Bitcoins. Additionally, Core Scientific's customers earned an estimated 110 Bitcoins at the company's <a href="https://ultramining.com/news/en/crypto-miners-shift-gears-ai-is-the-new-gold-rush/" rel="noopener noreferrer nofollow">data centers</a> last month. This performance underscores the company's strong position in the Bitcoin mining industry, despite the current market volatility.
In July, Core Scientific operated approximately 214,000 <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/" rel="noopener noreferrer nofollow">Bitcoin miners</a> across its seven data centers located in Georgia, Kentucky, North Carolina, North Dakota, and Texas. The total energized <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">hash rate</a> reached 25.3 exahashes per second (EH/s), demonstrating a significant increase from the previous month. This growth reflects Core Scientific's commitment to expanding its capabilities and maximizing efficiency, according to <a href="https://www.businesswire.com/news/home/20240805137412/en/Core-Scientific-Announces-July-2024-Production-and-Operations-Updates" rel="noopener noreferrer nofollow">Businesswire</a>.
Adam Sullivan, CEO of Core Scientific, expressed optimism about the company's future, stating, "The future of our Bitcoin mining business is bright as we migrate miners to dedicated sites and prepare to modify a significant portion of our high-power infrastructure for HPC <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/" rel="noopener noreferrer nofollow">hosting</a>." Sullivan also highlighted plans to integrate Block's new 3-nanometer ASIC chip in 2025, which is expected to drive miner refresh and hash rate growth.
Core Scientific is also taking a proactive approach to support the Bitcoin network's core developers through <a href="https://ultramining.com/en/ratings/foundry/" rel="noopener noreferrer nofollow">Foundry</a> Donate, a program that connects miners with nonprofit organizations. "Recognizing the need to support the vitality and longevity of the Bitcoin Network, we became the first Bitcoin miner to participate in Foundry Donate," Sullivan added. This initiative underscores Core Scientific's dedication to fostering innovation and sustainability in the Bitcoin ecosystem.
In terms of infrastructure expansion, Core Scientific is moving forward with a 100-megawatt expansion of its Pecos, Texas, data center. This expansion will accommodate Bitcoin miners relocated from sites scheduled for modification to support high-performance computing (HPC) hosting.
The company continues to focus on optimizing operations and managing costs. In July, Core Scientific implemented a post-<a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a> strategy that curtailed mining operations based on miner efficiency, hash price, and power prices. This approach reduced power consumption and delivered 30,762 megawatt hours to local grid partners.

Core Scientific Mines 411 Bitcoins and Plans Tech Overhaul with New ASIC Chips

Ultramining_Eng

Other articles published on Aug 6, 2024

Russia Advances Crypto and Mining Regulations as US Sanctions Impact Economy

Pennsylvania Professor Jeremy Siegel Urges Immediate 0.75% Rate Cut Amid Global Market Crash

Ethereum (ETH) Staking Hits Record High Amid Recent Market Decline

Shocking Crypto Rebound: $2 Trillion Market Surge – Is It Time To Buy?

US private investors predict surge in crypto investments in 2024 — Report

Shiba Inu Community Increases SHIB Burn Rate by 708%

Join our free newsletter for daily crypto updates!