Core Scientific Monthly Bitcoin Production Increased To 1,221 BTC By 10%

Core Scientific Monthly Bitcoin Production Increased To 1,221 BTC By 10%

One of the largest crypto miners, Core Scientific reported 1,221 Bitcoin production in July month, which is 10% more than its past month. The increased production rate was observed amid powered-down to support Texas grid operator in extreme heat waves conditions.

Against this production, Core Scientific sold out 1,975 bitcoins to cover expenses behind capital and growth. According to the announcement, the firm made a total of $44 million.

Core Scientific stated that it spent the proceeds on capital investment related to increasing its data center capacity and to pay GPU mining rig manufacturer Bitmain for the 100,000 mining rigs that it ordered in 2021.

After the settlement of the mining rings, Core Scientific is currently holding up 1,205 bitcoins along with $83 million cash on its balance sheet.

“During the month of July, we continued to enhance liquidity, strengthen our balance sheet, streamline our organization and make further progress toward achieving our 2022 operating objectives,” CEO Mike Levitt said in the statement.

Also, the firm has increased its self-mining server numbers from around 103,000 to 109,000 by 6%. This also grew its hashrate by 6%, from 10.3 EH/s to 10.9 EH/s.

In the entire month, the company has used around 195,000 ASIC servers in its data centers that are capable of generating 19.3 EH/s hashrate.

Also, Core Scientific has delivered its data center colocation services, technology, and operating support to around 86,000 customers with ASIC servers. Colocation services contributed around 44% of the company’s total hashrate.

Furthermore, Core Scientific has deployed a more efficient mining Bitmain ANTMINER S19 XPs for the very first time, which is capable of delivering 140 TH/s (terahash per second).

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