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Friday, September 17, 2021

Core Scientific, the largest blockchain hosting provider in North America

 Core Scientific, the largest blockchain hosting provider in North America, today announced that it has executed agreements with long-term partner Bitmain Technologies Limited (“Bitmain”), the industry-leading blockchain mining equipment manufacturer, to acquire 112,800 additional S19, S19 Pro, S19J and S19J Pro Antminers. The purchase agreements will increase the total unit count of Bitmain miners operated by Core Scientific to 188,824 S19s, more than doubling Core Scientific’s already market-leading 19 Series fleet of hosted and Core Scientific owned Antminers, further solidifying its position as the largest digital asset miner and hosting provider in North America.

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In 2021, with increasing mainstream commercial and institutional demand driven by the material price increase in Bitcoin and an increasingly uncertain regulatory environment in China, Core Scientific has seen significant increases in demand for its digital asset mining hosting services. These market developments have led Core Scientific’s enhanced focus on profitable self-mining. Today’s announcement is the first step in the expansion of the Core Scientific self-mining operations. More than half of the miners purchased will be added to Core Scientific’s self-mining fleet.

“Through our last purchase agreement with Bitmain in December 2020, we became the largest blockchain infrastructure and hosting provider in North America with 76,024 units in our fleet,” said Kevin Turner, President and CEO of Core Scientific. “Now, just 4 months later, we have more than doubled our fleet, and intend to continue to expand our self-mining operations throughout 2021. We look forward to continuing this rapid growth with Bitmain as our strategic partner.”

When added, these S19J and S19JPro mining units will bring the total 19 Series computational power hosted with Core Scientific to over 18.1 exahash.

“With this growth, our team is committed to maximizing the use of clean, renewable energy and being the leading ESG-focused North American digital asset mining company,” Turner continued. “Today, we are 100% carbon neutral through an 8% increase in power from renewable sources year over year and remain equally focused on expanding our carbon-neutral sources of power as we continue to grow.”

Core Scientific is the first and only authorized “in-warranty” Bitmain repair center in North America. Through this strategic and preferred partnership, Core Scientific can service and repair Bitmain machines, which materially reduces downtime typically involved with repairs.

“As Core Scientific continues to grow, Bitmain continues to improve and innovate so that we can best serve the needs of the digital mining market,” said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain. “Our next-gen digital mining machines have proven to be very high-quality and stable, and we are pleased to continue playing an integral role in establishing North America as a top destination for digital asset mining through our unparalleled partnership with Core Scientific.”

The long-standing partnership between Core Scientific and Bitmain continues to bring together Core Scientific’s expertise in managing enterprise-grade, high performance computing facilities and Bitmain’s technology to support clients and further serve the needs of the digital mining market while continuing to establish North America as a major hub for mining operations.

For more information, please visit https://www.corescientific.com.

Core Scientific President & CEO, Kevin Turner, is available for any questions or comments regarding this release. Please contact [email protected].

About Core Scientific:

Core Scientific is the leader in customizable infrastructure and software solutions for Artificial Intelligence and Blockchain. Using state-of-the-art facilities, patent pending technology and best-in-class blockchain hosting solutions, Core Scientific is primed to power leading edge servers for large scale operations and the most complex deep learning AI challenges. To learn more, visit www.corescientific.com.

S. Jack Heffernan Ph.Dhttps://www.knightsbridgelaw.com
S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.

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