- Core Scientific will purchase 112,800 new mining machines from Bitmain.
- The machines will be S19, S19 Pro, S19J, and S19J Pro Antminers, with an estimated value of more than $400 Million.
- With this purchase, the total mining machines of Core Scientific will reach 188,824.
Core Scientific, the leading Blockchain and Artificial Intelligence hosting provider in North America, announced that it has purchased 112,800 new mining machines from Bitmain, the market-leading bitcoin and cryptocurrencies mining equipment manufacturer. The purchased mining machines will be S19 Pro, S19, S19J Pro, and S19J Antminers, the most powerful mining machines on the market.
With this investment, the total mining machines of Core Scientific will reach a staggering number of 188,824, over doubling the company’s already best selling 19 Series Antminers. The company is already the biggest digital asset miner in North America, and this purchase will allow the company to further solidify its position.
Meeting Increasing Demand
With a blast in Bitcoin and cryptocurrencies’ price and adoption in 2021, Core Scientific witnessed a significant rise in demand for its digital asset mining hosting services. This may have led the company to enhance its focus on self-mining and expand its mining operations.
Core Scientific will use half of the purchased mining machines for its own bitcoin mining, and the other half for its existing clients. With the help of these new mining machines, Core Scientific will be able to increase its global share of Bitcoin’s hashrate from 5% to 12% and improve its total computational power to over 18.1 exahash.
Core Scientific’s Plan for Expansion
Kevin Turner, President and CEO of Core Scientific, expressed his plans for intending to expand the company’s self-mining operations, stating:
Through our last purchase agreement with Bitmain in December 2020, we became the largest blockchain infrastructure and hosting provider in North America with 76,024 units in our fleet. Now, just 4 months later, we have more than doubled our fleet, and intend to continue to expand our self-mining operations throughout 2021. We look forward to continuing this rapid growth with Bitmain as our strategic partner.
Turner also mentioned that the company is committed to maximizing the use of renewable energy. “Today, we are 100% carbon neutral through an 8% increase in power from renewable sources year over year and remain equally focused on expanding our carbon-neutral sources of power as we continue to grow,” Turner continued.
Core Scientific is the only authorized repair center for Bitmain miners, meaning it is the only center legally allowed to repair and service Bitmain machines. This strategic partnership enables Core Scientific to benefit as the only distributor while continuing to make North America a major hub for mining operations.