Core Scientific mined more than 1,000 BTC for the second consecutive month

In January 2022, the American blockchain-hosting provider Core Scientific mined 1,077 BTC, up from 1,044 BTC in December. Year-on-year, the increase exceeded 315%.

JANUARY 2022 HIGHLIGHTS:

-1,077 #bitcoin self-mined in January
-6,073 total #BTC held on 1.31.22
-75,000+ #bitcoin self-miners in operation, representing 7.5 EH/s
-Hosted 7.1 EH/s
-Grid support: 1,100+ MW-hours in aggregate electrical curtailment
https://t.co/rKPS2KDwKU

— Core Scientific (@Core_Scientific) February 7, 2022

For the second consecutive month, our self-mining operations yielded more than 1,000 BTC. We are now running at more than 14 EH/s including hosting, and we have good prospects for continuing the planned expansion,” said Core Scientific CEO Mike Levitt.

According to him, during the month, weather conditions in Texas forced the company to suspend mining about once a week on average. The amount of unused Core Scientific electricity during the outage hours exceeded 1,100 MWh.

As of the end of January, the firm’s reserves stood at 6,373 BTC, fully mined through its own operations.

The company operated a fleet of more than 75,000 Bitcoin miners, with a total hash rate of 7.5 EH/s. Hosting services covered client equipment with a total capacity of 7.1 EH/s.

21 January Core Scientific went public on Nasdaq via a merger with SPAC firm Power & Digital Infrastructure Acquisition Corp. The closing price for the merged company’s shares on the first day of trading was $8.8.

As of writing, shares were valued at $10.90 in premarket trading. Core Scientific’s market capitalization reached nearly $3.4 billion.

Back in July 2021, announcing the SPAC merger, the company was targeting a market valuation of about $4.3 billion.