Please enter CoinGecko Free Api Key to get this plugin works.

For the second month in a row, CORE SCIENTIFIC MINED OVER 1K BITCOIN

During the month of September, Core Scientific produced 1,077 BTC, a 315 percent growth year-over-year as its self-mining fleet surpassed 75,000 bitcoin mining rigs with hashrate capacity of 7.5 exahashes per second (EH/s).

Since the end of December, Core Scientific’s output has risen slightly, mining a total of 1,044 bitcoin. January’s bitcoin mining yielded a total of 6,373 bitcoin at the end of the month, up from 5,296 BTC in December.

Core Scientific also provides hosting services to 7.1 EH/s of clients in addition to its own mining farms. A total of 14 EH/s of hashrate capacity is used by the miner in total.

As a result of adverse weather circumstances that strained the miner’s power grids, Core Scientific’s CEO Mike Levitt said in a statement on Monday that the company mined more than 1,000 bitcoin for the second month in a row.

“We are committed to curtailing mining activities to ensure the stability and performance of the electrical grids in our communities,” he added.

With the help of state power grids and a stable demand for electricity, large bitcoin miners can help ensure that the supply and demand of electricity are in balance. But when an energy producer’s output does not match demand, miners frequently shut down part or all of their operations to maintain a stable grid.

According to a storey by Bloomberg, bitcoin miner Riot Blockchain, which is publicly listed, shut down most of its Texas operations earlier this month to conserve electricity during the state’s worst power outage since last year’s blackouts.

After shutting down a portion of its activities on four consecutive occasions in January, Core Scientific reported its electrical curtailments were more than 1,100 megawatt-hours (MWh).

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Leave a Comment

Your email address will not be published. Required fields are marked *

Facebook
Twitter
Telegram

Recent Posts

Follow Us