Core Scientific Begins Reporting Daily Bitcoin Mining Production
The figure will be updated every day at 12:00 p.m. EST (16:00 UTC) on the mining company's home page in a bid to improve transparency.
Apr 18, 2022 at 2:20 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/FDCSFW7RK5C6XEIKIOHFEL3DA4.jpg)
Darin Feinstein, co-founder of Core Scientific, speaks during the Bitcoin 2022 conference in Miami, Florida, U.S., on Friday, April 8, 2022. The Bitcoin 2022 four-day conference is touted by organizers as "the biggest Bitcoin event in the world." Photographer: Eva Marie Uzcategui/Bloomberg via Getty Images
Core Scientific (CORZ), the world's largest publicly traded bitcoin mining company, has begun reporting daily production figures on its website in a move to improve transparency for its shareholders and other stakeholders.
- The figure is "one of the most important performance measures in our industry," CEO Mike Levitt said in a press release. Core Scientific is the first publicly traded miner to report the amount of bitcoin it mines on a daily basis, according to Darin Feinstein, the company's co-founder and co-chairman .
- Core Scientific mined 36.8 BTC (roughly $1.5 million) on Sunday, its website says in the upper left corner. The number will update every day at 12:00 p.m. EST (16:00 UTC).
- Stock exchange-listed bitcoin mining firms usually report monthly figures such as the total or the daily average of bitcoin mined, as well as hashrate and crypto held in their treasuries. Core Scientific didn't indicate that it has plans to publish any daily metrics other than production figures.
- Meanwhile, blockchain technology firm Blockstream and Jack Dorsey's payments company Block (SQ) plan to give a lot more information about their mining operations. The pair have announced that a small bitcoin mine powered by solar panels and Tesla (TSLA) batteries will be revealing real-time data on a dashboard, including the site's energy consumption and hashrate, which is a measure of computational power.
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Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.
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