Core Scientific to increase ASIC server capacity by 75 MW
The Nasdaq-listed Bitcoin miner expects to generate $50 million in annual revenue once the ASIC servers are fully operational. United States Bitcoin (BTC) miner Core Scientific has signed a new colocation agreement to increase its data center hosting capacity by 75 megawatts (MW), a move intended to showcase the company’s ongoing commitment to boosting its infrastructure capabilities amid the ongoing bear market. The new agreement will generate roughly $50 million in annual revenue for Core Scientific once the ASICs are fully deployed, the company announced Tuesday. The agreement includes....
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While the current quarter in the crypto market has been bad for many companies as Bitcoin dropped, it has been successful for some. Core Scientific has proven that market lows can be beneficial if the right opportunity is identified. The U.S-based crypto mining company produced 1,334 BTC in August and sold over 1,125 Bitcoin for $25.9 million in approximate. According to Core Scientific’s August Production and Operational updates, it operated 25,451 ASIC servers for colocation and self-mining. Also, data shows that the hash rate produced was about 21.54EH/s (hash rate per second). Related....
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