In 2023, the bankrupt mining company Core Scientific mined 19,274 BTC (approximately $812 million at the time of writing).
In 2023, Core Scientific produced 19,274 Bitcoin, comprising 13,762 self-mined and 5,512 client-mined in our data centers, making us the largest listed producer of #Bitcoin in North America!
As every miner’s performance is crucial to our success, we have teams monitoring our… pic.twitter.com/ko9Ms9kyCo
— Core Scientific (@Core_Scientific) January 31, 2024
According to the statement, this level of cryptocurrency production makes the company the largest publicly listed miner in North America.
Of the total bitcoins mined, 13,762 BTC were self-mined, while another 5,512 BTC were generated by client-hosted equipment in the firm’s data centers.
“As every miner’s performance is crucial to our success, we have teams monitoring our equipment around the clock to minimize downtime,” Core Scientific emphasized.
In December 2022, the company filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code.
Subsequently, a group of creditors agreed to lend Core Scientific $37.5 million.
Throughout 2023, the company arranged a $70 million loan with investment bank B. Riley, and Bitmain agreed to invest $53.9 million in the firm as part of a contract to supply 27,000 bitcoin mining devices.
In December, Core Scientific announced its anticipated emergence from bankruptcy proceedings in early 2024. In January, the court approved the reorganization plan, paving the way for the company to return to the Nasdaq listing.
As reported by CoinShares experts, following the halving, only Bitfarms, Iris, CleanSpark, TeraWulf, and Cormint are expected to operate profitably among public miners. Analysts did not include Core Scientific or GRIID, which went public at the end of January, in the report.