Core Scientific Buys 17,000 BTC Mining Rigs
- The firm has struck a deal with Bitmain to purchase more than 17,000 S19 Antminers.
- Core Scientific claims that this is the largest purchase of S19 Antminers a single blockchain company has made so far.
2Bitcoins.ru
U.S.-based Bitcoin mining farm Core Scientific has struck a deal to buy thousands of next-generation mining machines from Chinese hardware manufacturer Bitmain, the firm said in a press release on 26 June.
According to the announcement, the firm has agreed to buy over 17,000 S19 Antminers, Bitmain’s newest and most powerful Bitcoin miner, on behalf of its clients and for its own use. Core Scientific has claimed that this purchase represents the highest number of S19 miners bought by a single blockchain hosting company.
The president and CEO of Core Scientific, and former COO of Microsoft, Kevin Turner, said in a statement:
“Our ongoing purchases amidst this global pandemic, have demonstrated our team’s ability to successfully serve our growing list of institutional clients with the newest and most efficient equipment and host them in the best facilities in North America. Core Scientific has received and begun testing the first of Bitmain’s newest ASIC miners, and has seen material success in increasing existing hashrate to achieve a 110 TH/s ± 3%.”
Being one of the largest Bitcoin mining companies in North America, Core Scientific has over 450MW of power under contract. This is not the first time that Core Scientific has partnered with Bitmain. Earlier this year, both companies partnered in order to expand Bitmain’s maintenance training course to North America. Thanks to the collaboration, mining hardware engineers no longer need to travel from North America to China in order to pass Bitmain’s “Ant Training Academy” certification program, which gives trainees the know-how of repairing their mining equipment.
Last year, Bitmain established what it calls “the world’s largest” Bitcoin mining facility in Rockdale, Texas, which sits on a 33,000-acre site and can expand to a capacity of over 300MW in the future. Earlier this year, two Japanese blockchain companies, SBI and GMO, reportedly signed an agreement to process cryptocurrency transactions through the Rockdale facility.
- Core Scientific’s bankruptcy filing revealed the company had between $1 billion and $10 billion in assets, and the same amount in liabilities.
- The company is one of the largest Bitcoin miners in the world, and is responsible for around 10% of the computing power on the Bitcoin network through its 243,000 machines.
Shutterstock
- Bitcoin miner Core Scientific said in a SEC filing that it would require additional liquidity in order to continue operations past November 2023.
- The company, however, expressed doubts in its ability to raise funds through financing or capital markets due to “uncertainties and current market conditions”.
- Celsius will invested in equipment and positions in three large North American Bitcoin mining companies.
- The $200 million investment will make it the largest investors in the Bitcoin mining industry in the U.S.