Core Scientific Emerges from Bankruptcy, Mined $812M Worth of Bitcoin in 2023

• Core Scientific, once bankrupt, mined $812 million worth of Bitcoin in 2023, becoming North America’s largest publicly traded crypto miner.
• The company operates 209,000 miners and achieved a total hash rate of 23.2 exahashes per second across its data centers.
• Core Scientific reduced its power consumption and delivered over 131,000 megawatt-hours to local grid partners in 2023.

Core Scientific, a major Bitcoin mining company, has come roaring back after filing for Chapter 11 bankruptcy in December 2022. Not only did they emerge from bankruptcy in January 2024, but they also revealed impressive mining results for 2023.

The company mined a staggering 19,274 Bitcoin, worth approximately $812 million at current prices. This achievement solidifies their position as the largest publicly traded crypto miner in North America.

The company revealed that it mined 13,762 Bitcoin across its data centers in the United States of Georgia, Kentucky, North Carolina, North Dakota, and Texas. The customers and clients mined a total of 5,512 BTC in 2023.

Large-Scale Operations and Sustainability Efforts

Core Scientific’s mining operations are vast, with 209,000 owned and co-located Bitcoin miners. This translates to a significant processing power, with a total hash rate of 23.2 exahashes per second across their data centers.

Beyond sheer scale, the company emphasizes sustainability efforts. Their 2023 mining report highlights a reduction in power consumption at their data centers. Moreover, they contributed over 131,000 megawatt-hours of energy to local grid partners throughout the year.

A Rollercoaster with a Positive Outlook

The past year has been a whirlwind for Core Scientific. The crypto winter brought financial challenges, culminating in their Chapter 11 filing.

The restructuring plan proved successful, allowing them to emerge from bankruptcy and relist on the Nasdaq stock exchange on January 27.