Core Scientific mined 2,791 BTC in two months

The mining company Core Scientific mined 1,356 BTC in November and 1,435 BTC in December, respectively. The rise was 5.8%, despite outages caused by bad weather.

Core Scientific November and December 2022 earnings updates. $CORZ #earnings https://t.co/Zg1QtJVddP

— Core Scientific (@Core_Scientific) January 9, 2023

As of year-end, Core Scientific’s fleet consisted of approximately 153,000 ASIC miners with a combined hash rate of 15.7 EH/s (November: 15.4 EH/s).

Taking into account equipment hosted in data centres, the company operated 234,000 devices with a hash rate of 23.7 EH/s.

Client-owned installations produced 795 BTC in November and 931 BTC in December.

Last month, the blizzard that struck the United States forced many local miners to disconnect equipment to balance the grid or for safety.

“In November and December the company repeatedly halted operations at its data centres. The reductions in consumption amounted to 5,828 MWh and 17,179 MWh respectively,” the statement said.

Core Scientific operates facilities in Georgia, Kentucky, North Carolina, North Dakota and Texas.

In December the firm filed for Chapter 11 bankruptcy under the U.S. Bankruptcy Code. The company said it would continue operations and aimed to “quickly reorganise the business” based on agreements with holders of 50% of the outstanding convertible notes.

A group of creditors agreed to provide the debtor with a $56 million credit line and to extend a $19 million syndicated loan.

The bankruptcy court approved Core Scientific’s access to a $37.5 million loan from these funds. In January the company will file for the remaining debt financing.

In October, Core Scientific warned of liquidity problems and the risk of bankruptcy.

Follow ForkLog’s bitcoin news on our Telegram — cryptocurrency news, prices and analysis.