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Core Scientific Solidifies Its Position as the Largest Digital Mining Operator in North America by Facilitating the Purchase of More Than 17,000 Digital Mining Machines

June 26, 2020 GMT

BELLEVUE, Wash.--(BUSINESS WIRE)--Jun 26, 2020--

Today, Core Scientific, the leading blockchain hosting provider in the United States, announced that it has again partnered with Bitmain Technologies Inc. (“ Bitmain ”), the industry-leading blockchain mining equipment manufacturer to facilitate the purchase of 17,595 units of bitcoin mining machines on behalf of its growing list of hosting clients as well as its own operating needs. Core Scientific’s agreement with Bitmain signifies the largest number of S19 machines purchased by a single blockchain hosting company, and reaffirms its position as the largest accredited shareholder-owned hosting provider in the market.

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The S19 Antminers, Bitmain’s newest flagship model of digital mining machines, will be received and fully deployed across Core Scientific’s 655,000 square feet of data centers located in the United States over the next four months. This latest generation of SHA256 Application-Specific Integrated Circuit (“ASIC”) miners from Bitmain allow for more energy efficient mining operations than prior Bitmain models and other ASIC miners that are currently available. This purchase represents an important step towards Core Scientific’s ongoing commitment and focus on its digital mining hosting business as it looks to serve investors with its fully built-out ASIC, GPU and FPGA ready infrastructures with 450MW+ of power under contract.

“Our ongoing purchases amidst this global pandemic, have demonstrated our team’s ability to successfully serve our growing list of institutional clients with the newest and most efficient equipment and host them in the best facilities in North America,” said Kevin Turner, President & CEO of Core Scientific. “Core Scientific has received and begun testing the first of Bitmain’s newest ASIC miners, and has seen material success in increasing existing hashrate to achieve a 110 TH/s ± 3%. With market-beating long-term power contracts in place and the most powerful miners ready to be deployed at a moment’s notice, Core Scientific is well-positioned to facilitate our clients’ digital mining needs at a considerably faster pace than the competition.”

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Antminer Sales Director of North, Central and South America (NCSA) Irene Gao said , “We are confident that our latest generation miners from the Antminer 19 series will operate at peak performance at the various Core Scientific data centers around the United States. The Antminer S19 will serve to enhance the stability and security of the cryptocurrency network and advance Core Scientific’s focus towards growing their business in the digital mining industry.”

The Core Scientific team brings together over 20 years of experience in managing data centers and continues to transform the world through AI and blockchain for real-world use, today. With the latest machines from Bitmain strategically located in geopolitically and regulatory stable data centers around the United States, Core Scientific is ready to provide best-in-class infrastructure solutions to its clients. The company has also procured additional units that are ready to use and available to hosting clients.

For more information, please visit https://www.corescientific.com.

Core Scientific Chief Customer Success Officer Russell Cann is available for interview. Please contact corescientific@wachsman.com

View source version on businesswire.com:https://www.businesswire.com/news/home/20200626005341/en/

CONTACT: Lucinda Bell

corescientific@wachsman.com

KEYWORD: UNITED STATES NORTH AMERICA WASHINGTON

INDUSTRY KEYWORD: MOBILE/WIRELESS TECHNOLOGY FINANCE SECURITY OTHER TECHNOLOGY PROFESSIONAL SERVICES SOFTWARE NETWORKS INTERNET HARDWARE

SOURCE: Core Scientific

Copyright Business Wire 2020.

PUB: 06/26/2020 10:52 AM/DISC: 06/26/2020 10:52 AM

http://www.businesswire.com/news/home/20200626005341/en