Core Scientific Plans Massive Expansion to Dominate Bitcoin Mining

Core Scientific Inc. plans to expand its Denton, Texas, data center by 72 megawatts (MW), aiming to add more than 20 exahash of mining hash rate with minimal cost. The project is part of a multi-year program to complete their partially built infrastructure and enhance capacity by 372 MW. This expansion allows Core Scientific to increase its mining capacity, upgrade its proprietary technology, and adapt to varied computing requirements.

Core Scientific Announces Ambitious Expansion to Dominate Bitcoin Mining Landscape

Dallas, Texas - April 16, 2023 - Core Scientific Inc., a leading Bitcoin mining company, unveiled an audacious plan to amplify its presence in Denton, Texas, with a colossal 72-megawatt (MW) expansion of its data center. This strategic move will propel Core Scientific to the forefront of the Bitcoin mining industry, bolstering its infrastructure by a staggering 372 MW.

The expansion is meticulously designed to enhance the company's operational efficiency and increase hash rate significantly. The new capacity will provide over 20 exahash of additional mining prowess, enabling Core Scientific to dominate the competitive Bitcoin mining arena. By leveraging existing infrastructure, the company estimates a modest average incremental cost of approximately $200,000/MW, significantly lower than the exorbitant expenses associated with fresh construction or asset acquisition.

Core Scientific's current mining empire encompasses 745 MW of operational infrastructure, with an additional 372 MW in various stages of construction at its two Texas data centers. The Denton facility currently operates 125 MW of Bitcoin mining, with a total contracted power of approximately 300 MW, while the Pecos data center contributes 71 MW of mining power across two sites and boasts 250 MW of contracted power.

"This Denton project marks the genesis of a multi-year program to complete our partially constructed infrastructure and dramatically expand our capacity," said Adam Sullivan, CEO of Core Scientific. "Our unwavering commitment to owning and operating our infrastructure empowers us to expand our mining muscle, deploy upgrades to our proprietary technology, optimize miner allocation, and seamlessly adapt to evolving computational demands."

Sullivan's unwavering belief in Core Scientific's unique operational model propels the company's vision. "By strategically expanding our capacity alongside our relentless focus on fleet efficiency and hash rate optimization, we are confident that we will maintain our position as a formidable force in the post-halving Bitcoin mining landscape," Sullivan proclaimed.

Core Scientific's Denton expansion is not merely an isolated project; it is a testament to the company's relentless pursuit of technological advancement and operational excellence. With this audacious move, Core Scientific solidifies its position as a global leader in Bitcoin mining, poised to reap the benefits of the growing demand for decentralized digital currency and the transformative power of blockchain technology.