Core Scientific Announces June 2024 Production And Operations Updates

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Core Scientific, Inc a leading North American provider of high-powered digital infrastructure for bitcoin mining and hosting services, released its unaudited production and operations updates for June 2024. The company's key updates include significant contracts, infrastructure expansion, and efficiency improvements.

HPC Hosting Contracts

In June 2024, Core Scientific secured High-Performance Computing (HPC) hosting contracts for a total of 270 MW of its infrastructure, with potential revenue exceeding $4.7 billion over 12 years. These agreements mark the beginning of an extensive expansion in the company's hosting business, showcasing the value of its high-power digital infrastructure. Core Scientific is actively engaging with potential clients for its remaining 230 MW of infrastructure available for HPC hosting, including CoreWeave, which holds a time-limited, non-exclusive option on the remaining capacity. The company is also evaluating site acquisition opportunities to expand beyond its current 1.2 GW power capacity.

Infrastructure Expansion

To support its HPC hosting and bitcoin mining businesses, ...
... Core Scientific completed a 72 MW expansion of its Denton, Texas data center. This expansion will accommodate bitcoin miners relocated from data centers designated for HPC hosting. The company improved its average self-miner energy efficiency to 23.6 joules per terahash, optimizing mining economics in the post-halving environment. Core Scientific is leveraging its expert data center team to capitalize on the growing demand for high-power data centers driven by the rise of artificial intelligence.

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