Core Scientific mined 1,213 BTC in September and continued liquidating bitcoin reserves

Public mining company and blockchain-hosting provider Core Scientific mined 1,213 BTC in September and sold 1,576 BTC.

SEPTEMBER 2022 HIGHLIGHTS
— 1,213 #Bitcoin self-mined
— 22.5 EH/s of total network
— +232,000 total ASIC servers in operationhttps://t.co/oDosYRE0CU

— Core Scientific (@Core_Scientific) October 5, 2022

At the start of October, reserves stood at 1,051 BTC. It also held around $29.5 million in fiat currency.

According to the press release, during the month Core Scientific repeatedly shut down its Texas data-centres due to extreme weather conditions and equipment problems. The amount of unutilised grid electricity stood at 8,774 MWh.

The company increased its own equipment fleet to 130,000 devices with a total hashrate of 13 EH/s through deployment of around 2,900 Bitcoin miners.

The number of client installations under the hosting service rose by 8,400 in September to 102,000 ASIC miners with a total capacity of 9.5 EH/s.

By year-end the company plans to deploy a further 38,000 devices for self-mining Bitcoin.

“Despite the difficulties, Core Scientific continued to lead the Bitcoin mining industry. We mined 1,213 BTC ourselves. We expanded our overall fleet to around 232,000 installations (owned and hosted), which corresponds to about 22.5 EH/s,” commented the company’s CEO Mike Levitt.

In June, public miners for the first time sold more of the first cryptocurrency than they mined. Companies sold almost a quarter of bitcoin reserves, liquidating around 14,600 BTC. Almost half of the volume went to Core Scientific.

In July the trend continued: with a total mining of 3,478 BTC, the firm sold 5,768 BTC.

Earlier, in the second quarter Core Scientific net loss of $861.7 million, linked to a revaluation of bitcoin reserves.

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