Core Scientific Announces April 2024 Production and Operations Updates

Core Scientific, Inc. (Nasdaq: CORZ) (“Core Scientific” or “the Company”), a leader in bitcoin mining, specializing in application-specific digital infrastructure for emerging high-value compute, today released unaudited production and operations updates for April 2024.

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Core Scientific is a leader in bitcoin mining, specializing in application specific digital infrastructure. (Photo: Business Wire)

“We surpassed 20 exahash of energized self-mining hash rate in April after completing the planned deployment of S21 miners and temporarily energizing prior generation miners at data centers where they can operate profitably,” said Adam Sullivan, Core Scientific’s Chief Executive Officer. “Strong cash generation enabled us to pay off $19 million in debt associated with mechanics’ liens and begin completion of 72 megawatts of partially built infrastructure at our Denton, Texas data center. This expansion is part of our multi-year growth plan to add 372 megawatts of new infrastructure, which represents more than 20 exahash of new hash rate.”

“With the halving behind us, we continue to focus on increasing productivity and efficiency, improving our average miner energy efficiency to 25.8 joules per terahash. We are also in active discussion with potential hosting clients regarding our high-performance compute offering and believe that our unique business model can enhance our revenue and growth potential, thereby increasing shareholder value,” Mr. Sullivan added.

Key Metrics Summary (unaudited)

Metric		April 2024		March 2024
Self-Mining Bitcoin Earned1		803		906
Hosting Bitcoin Earned by Customers2		265		309
Average Self-Mined Bitcoin Earned/Day		26.8		29.2
Self-Mining Energized Hash rate3		20.4