Reading time: ~2 m
Core Scientific self-mined 1,221 BTC in July, up 10.4% from June, despite having to cut power due to extreme temperatures in Texas.
In July, the reduction periods amounted to 8,157 megawatt-hours. Earlier this week, rival Riot also revealed that it cut 11,717 megawatt-hours of capacity in July.
Core Scientific also sold 1,975 BTC in July, raising about $44 million at an average price of $22,000 per bitcoin. According to a statement released on Friday, the company used the funds to expand capacity at its sites and to pay for an order for 100,000 ASICs it placed with Bitmain in 2021.
In June, the mining company sold 7,202 bitcoins, which at the time represented the majority of its bitcoin reserves.
“Core Scientific will continue to sell self-mined bitcoin to pay operating expenses, fund growth, repay debt, and maintain liquidity,” the company said in a statement.
The company also revealed that it has rolled out a total of 6,000 new machines for self-mining. At the end of the month, Core Scientific had 195,000 miners with a total hashrate of 19.3 exahashes per second (EH/s), both self-mining and hosted. The self-mining hashrate was 10.9 EH/s.
Last month, Core Scientific signed co-location agreements that will generate $50 million in revenue per month once the miners are deployed later this year.
#Core #Scientific #mined #BTC #July