Austin, Texas–(BUSINESS WIRE)–Core Scientific, Inc. (NASDAQ:CORZ) (“Core Scientific” or “the Company”), a leading provider of high-performance blockchain computing data centers and software solutions, today announced production and operational updates for October 2022.
At the end of the month, the company was running approximately 243,000 ASIC servers for both colocation and self-mining, totaling 24.4 EH/s. The company’s data centers in Georgia, Kentucky, North Carolina and North Dakota remain at full capacity. The company has completed 287 MW of its data center in Texas.
Core Scientific’s self-mining operation produced 1,295 bitcoins in October. As of the end of October, the company operates about 143,000 self-mining servers, which make up about 59% of the company’s total fleet and represent a self-mining hashrate of 14.4 EH/s.
In addition to its self-mining fleet, Core Scientific provided data center colocation services, technology and operational support for approximately 100,000 customer-owned ASIC servers as of October 31, 2022. At the end of October, colocation services accounted for about 41% of the company’s total fleet.
Bitcoin sales and liquidity
In October, the company sold 2,285 bitcoins at an average price of $19,639 per bitcoin for total proceeds of approximately $44.8 million. As of October 31, 2022, the company held 62 bitcoins and approximately $32 million in cash.
In October, the company shut down its operations in Texas and other data centers multiple times. The curtailments in October totaled 5,125 megawatt hours. Core Scientific works with the communities and utilities where it operates to improve power grid stability.
ABOUT NUCLEAR SCIENCE
Core Scientific is one of the largest publicly traded blockchain computing data center providers and digital asset miners in North America. Core Scientific has operated blockchain computing data centers in North America since 2017, leveraging its facilities and intellectual property portfolio for colocated digital asset mining and self-mining. Core Scientific operates data centers in Georgia, Kentucky, North Carolina, North Dakota and Texas and expects to begin operations in Oklahoma in the next few quarters. Core Scientific’s proprietary Minder® fleet management software combines the company’s colocation expertise with data analytics to ensure maximum uptime, alerting, monitoring and management of all miners on the company’s network. To learn more, visit http://www.corescientific.com.
FORWARD LOOKING STATEMENTS AND EXPLANATIONS
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “estimate,” “plan,” “project,” “forecast.” ‘, ‘intend’, ‘will’, ‘expect’, ‘anticipate’, ‘believe’, ‘aim’, ‘aim’ or other similar expressions which predict or indicate future events or trends or which are not statements of historical matter . These forward-looking statements include, but are not limited to, the Company’s ability to scale and grow its business, meet its 2022 operating plan, source clean and renewable energy, the Company’s benefits and anticipated growth, future estimates of revenue, Net Income, Adjusted EBITDA, Total Debt, Free Cash Flow, Liquidity and Future Availability of Financing, Future Estimates of Compute and Operational Capacity, Future Demand for Colocation Capacity, Future Estimate of Hash Rate (including mix of self-mining and colocation) and Gigawatts in Operation, Future Projects under construction or under negotiation and future operational site expectations, miner and critical infrastructure contracts, future estimates of captive mining capacity, the public outstanding of the Company’s stock, future infrastructure expansions and their management Operational Capacity and Operations Capacity and location characteristics of the Company’s operations and proposed operations in Texas and Oklahoma. These statements are for illustrative purposes only and are based on various assumptions, whether expressed in this press release or not, and on management’s current expectations. These forward-looking statements are not intended to be a guarantee, representation, prediction or definitive statement of fact or likelihood and should not be relied upon by any investor. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the Company’s control. These forward-looking statements are subject to a number of risks and uncertainties, including those identified in the Company’s reports with the Securities and Exchange Commission, and if any of these risks materialize or our assumptions prove incorrect, actual results could differ materially differ from the results implied by these forward-looking statements. Accordingly, undue reliance should not be placed on forward-looking statements.
Monthly comparisons are based on the combined results of Core Scientific and its acquired companies and are unaudited.
Core Scientific is providing these and any future similar unaudited updates to provide shareholders with insight into the Company’s results and progress relative to previously announced capacity and operating guidance.
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