Business
Core Scientific Announces May 2024 Production and Operations Updates
Earned 447 self-mined bitcoin for a total of 4,076 bitcoin year-to-date, and our customers earned an estimated 128 bitcoin at our data centers in May
About this update from Core Scientific, Inc.
[{"type":"text","content":"\n\nEarned 447 self-mined bitcoin for a total of 4,076 bitcoin year-to-date, and our customers earned an estimated 128 bitcoin at our data centers in May\n\n\n\nOperated approximately 219,000 owned and hosted bitcoin miners for a total energized hash rate of 26.1 exahash as of May 31, 2024\n\n\n\n AUSTIN, Texas--(BUSINESS WIRE)--\nCore Scientific, Inc. (Nasdaq: CORZ) (\"Core Scientific\" or “the Company”), one of the largest owners and operators of high-powered digital infrastructure for bitcoin mining and hosting services in North America, today released unaudited production and operations updates for May 2024.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240605022520/en/Core Scientific is one of the largest owners and operators of high-powered digital infrastructure for bitcoin mining and hosting services in North America (Photo: Business Wire)\n“We continue to execute well in our strong bitcoin mining business while also leveraging our valuable portfolio of high-power digital infrastructure to expand our hosting business, as demonstrated by our recent announcement of new, long-term hosting contracts for 200 megawatts of HPC infrastructure with CoreWeave, the AI Hyperscaler,” said Adam Sullivan, Core Scientific’s Chief Executive Officer. “These contracts represent one of the largest AI hosting agreements to date, and they will strengthen our earnings power with an estimated $3.5 billion in cumulative revenue over their 12-year terms.”\n\n\n“Our discussions with potential clients to modify an additional 300 megawatts of our high-power infrastructure for HPC hosting continue, representing an even greater source of revenue by capitalizing on strong market demand. Supported by powerful industry tailwinds across AI compute, we are excited about the meaningful opportunities ahead to maximize the value of our digital infrastructure portfolio to deliver on our business objectives and create sustainable shareholder value,” added Mr. Sullivan.\n\n\nKey Metrics Summary (unaudited)\n\n\n\nMetric\n\nMay 2024\n\n\n\n\n\n\nApril 2024\n\n\n\n\n\n\n\n\nSelf-Mining Bitcoin Earned1\n\n\n\n\n\n\n447\n\n\n\n\n\n\n803\n\n\n\n\n\n\n\n\nHosting Bitcoin Earned by Customers2\n\n\n\n\n\n\n128\n\n\n\n\n\n\n265\n\n\n\n\n\n\n\n\nAverage Self-Mined Bitcoin Earned/Day\n\n\n\n\n\n\n14.4\n\n\n\...