Core Scientific Expands Bitcoin Mining Operations in Texas

Core Scientific's Strategic Expansion

Core Scientific, a leader in bitcoin mining, is launching a significant expansion project at its Denton, Texas data center. This initiative aims to complete a 72-megawatt expansion, enhancing the company's digital infrastructure. By owning and managing its infrastructure, Core Scientific can efficiently increase mining capacity and adapt to alternative computing opportunities.

Enhancing Mining Capacity

The Denton project is part of a broader multi-year strategy to finalize the company's partially built infrastructure across two Texas locations. This expansion will enable Core Scientific to add over 20 exahash of mining hash rate at a reduced cost, significantly below new construction expenses. With this development, the company seeks to maintain its competitive edge in the evolving bitcoin mining landscape.

Current Operations and Future Growth

Currently, Core Scientific's Denton facility operates 125 megawatts of bitcoin mining, with a total contracted power of 300 megawatts. The Pecos facility, on the other hand, operates 71 megawatts with a contracted power capacity of 250 megawatts. The expansion aligns with Core Scientific's commitment to maximizing efficiency and productivity.

Embracing Alternative Compute Hosting

Core Scientific's data centers, totaling over 500 megawatts of operational capacity, are equipped to host alternative forms of compute. The facilities' flexible designs and strategic locations near major metropolitan areas make them ideal for high-performance computing. The company believes that transitioning some of its bitcoin mining infrastructure to alternative compute hosting can be more cost-effective and quicker than new construction, offering substantial financial benefits to clients.