In 2023, the bankruptcy mining company Core Scientific mined 19,274 BTC (~$812 million at the time of writing).
In 2023, Core Scientific produced 19,274 Bitcoin, comprising 13,762 self-mined and 5,512 client-mined in our data centers, making us the largest listed producer of #Bitcoin in North America!
As every miner's performance is crucial to our success, we have teams monitoring our… pic.twitter.com/ko9Ms9kyCo
— Core Scientific (@Core_Scientific) January 31, 2024
This cryptocurrency production volume makes the company the largest publicly traded miner in North America, according to the statement.
Of the total number of bitcoins mined, 13,762 BTC came from self-mining, and another 5,512 BTC was generated by the equipment of hosting clients in the company’s data centers.
“Because the performance of each miner is critical to our success, we have teams that monitor the equipment fleet around the clock to minimize downtime,” Core Scientific emphasized.
In December 2022, the company filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code.
A group of creditors later agreed to lend Core Scientific $37.5 million.
Throughout 2023, the company agreed with investment bank B. Riley to receive a $70 million loan, and Bitmain agreed to invest $53.9 million in the firm as part of a contract to supply 27,000 Bitcoin mining devices.
In December, Core Scientific announced its expected exit from bankruptcy proceedings in early 2024. In January, the court approved a reorganization plan that cleared the way for the company to return to Nasdaq listing.
Let us remind you that, according to CoinShares experts, after halving, of the public miners, only Bitfarms, Iris, CleanSpark, TeraWulf and Cormint will be able to operate profitably. Analysts did not include either Core Scientific or GRIID, which went public at the end of January, in the report.
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