Core Scientific Plans to Increase Hashrate to 42 EH/s by Year End
The miner said demand for its hosting capacity remains strong and continues to exceed available supply.
Core Scientific (CORZ), the largest publicly traded bitcoin (BTC) miner in North America by hashrate, plans to solidify its leading position by reaching a hashrate of 40 EH/s-42 EH/s by the end of this year.
- The hashrate will be distributed approximately evenly between its self-mining and hosting segments, the company said in a statement on Monday.
- Core Scientific said its construction and power team is on pace to achieve 1.2-1.3 gigawatt of operating infrastructure by year's end.
- “We ended 2021 operating data centers in four states with total mining capacity of 13.5 EH/s. Two months later we were operating in five states, with a sixth state in view, and had increased our hashrate to 15.9 EH/s," said CEO Mike Levitt.
- The company also announced preliminary 2021 revenue of $515 million to $545 million, versus FactSet's consensus analyst estimate for $469.9 million. Preliminary adjusted earnings before interest, taxes, depreciation (EBITDA) was $225 million to $235 million, versus the analyst consensus estimate of $205.5 million.
- The shares of the miner were up 3.6% on Monday, while bitcoin is roughly flat over the last 24 hours and peer Marathon Digital (MARA) is down about 1.7% on Monday. Marathon said in December that it expects to increase its hashrate to about 23.3 EH/s by early 2023.
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