Atlas Technology in Deal With Core Scientific to Expand US Mining Operations

Core Scientific to host Atlas mining operations with 100 megawatts of power.

Nov 1, 2021 at 3:33 p.m. UTC
Updated Nov 1, 2021 at 3:55 p.m. UTC

Atlas Technology, which is expanding its North American crypto mining presence, signed a deal for Core Scientific to host more than 100 megawatts of bitcoin mining capacity, Atlas announced Monday.

  • The deal comes as the Singapore-based crypto miner continues to bring more mining power into the U.S. and aims to build environmentally friendly mining operations.
  • “Core Scientific’s commitment to 100% net carbon-neutral operations, the innovation that drives profitability, and deep industry partnerships align well with our values,” Raymond Yuan, Atlas’ founder, said in a statement.
  • The decision to continue to expand in the U.S. comes as more miners migrate their operations to North America, following China’s sweeping crypto ban.
  • On Oct. 19, Atlas said it signed a 100-megawatt “colocation capacity” deal with Compute North to add to its U.S. mining operations and expand its hashrate to 3.7 exahashes starting in the first quarter of 2022. An exahash is a measure of computational power.

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Aoyon Ashraf is crypto mining reporter with more than a decade of experience in covering equity markets