Core Scientific, Inc. (Nasdaq: CORZ), a leading owner and operator of high-powered digital infrastructure for Bitcoin mining and hosting services in North America, has released its unaudited production and operations updates for June 2024. The company secured significant high-performance computing (HPC) hosting contracts, expanded its data center infrastructure, and achieved notable Bitcoin mining results.
Key Highlights
- HPC Hosting Contracts: Secured agreements with CoreWeave for 270 MW of infrastructure, representing a total revenue opportunity exceeding $4.7 billion over 12-year terms.
- Bitcoin Mining: Earned 430 self-mined Bitcoin in June, bringing the year-to-date total to 4,506 Bitcoin. Clients earned an estimated 110 Bitcoin at Core Scientific’s data centers.
- Infrastructure Expansion: Completed a 72 MW expansion at the Denton, TX data center, increasing operational capacity to 832 MW. Initiated a project to complete 100 MW of partially built infrastructure in Pecos, TX.
Production Metrics (June 2024)
| Metric | June 2024 | Q2 2024 Total |
|---|---|---|
| Self-Mined Bitcoin Earned | 430 | 1,680 |
| Hosting Bitcoin Earned by Clients | 110 | 503 |
| Average Daily Bitcoin Earned | 14.3 | 18.5 |
| Total Energized Hash Rate (EH/s) | 24.6 | - |
| Bitcoin Sold | 479 | 1,779 |
| Bitcoin Sales Proceeds (USD) | $31.6M | $116.8M |
| Average Fleet Efficiency (J/TH) | 23.6 | - |
Infrastructure and Operations
Data Centers
Core Scientific operates approximately 205,000 Bitcoin miners across seven data centers in Georgia, Kentucky, North Carolina, North Dakota, and Texas, with a total energized hash rate of 24.6 EH/s.
Self-Mining
The company’s owned fleet of 164,000 miners (80% of total operational miners) achieved a hash rate of 19.4 EH/s. Miners are being relocated from HPC-designated sites to optimize mining efficiency.
Hosting Services
Core Scientific hosts approximately 42,000 client-owned miners (20% of operational miners), which earned an estimated 110 Bitcoin in June. Hosting services also support HPC clients, including CoreWeave.
Grid Support
In June, Core Scientific curtailed mining operations during periods of low profitability, delivering 23,366 MWh back to local grids. This strategy enhances operational efficiency and supports grid stability.
Future Projects and Events
- Bitcoin 2024 Conference: Core Scientific will exhibit at Booth #711 in Nashville, TN (July 25–27, 2024).
👉 Learn more about Core Scientific’s HPC hosting solutions.
FAQs
Q1: What is Core Scientific’s total revenue opportunity from HPC hosting contracts?
A1: The 270 MW of secured contracts represent over $4.7 billion in potential revenue over 12 years.
Q2: How many Bitcoin did Core Scientific mine in June 2024?
A2: The company earned 430 Bitcoin from self-mining and clients earned an estimated 110 Bitcoin.
Q3: What infrastructure expansions did Core Scientific complete?
A3: The company finished a 72 MW expansion in Denton, TX, and began a 100 MW project in Pecos, TX.