Core Scientific increased Bitcoin production by 10% in July amid Texas power cuts

Crypto mining firm Core Scientific reported that it produced 1,221 bitcoins (BTC) in July, despite the company shutting down several times due to demand on the Texas power grid. .

In Friday’s announcement, Core Scientific Said Month-over-month bitcoin production increased from 1,106 in June to 1,221 in July, an increase of about 10.4%. The company reported a reduction in operations “due to extreme temperatures in multiple data centers,” but increased the number of self-mining servers and hash rate by 6%, to 109,000 and 10.9 exhashes per second (EH/s) respectively. increased.

Highlights for July 2022:
-1,221 #bitcoin self mining
-10.9 EH/s self-mining
– +190,000 ASIC servers in operation
-8.4 EH/s colocation (hosting)
-Deployed the first BITMAIN ANTMINER S19 XP in the UShttps://t.co/Qt2Vke84yz

Core Scientific (@Core_Scientific) August 5, 2022

According to Core Scientific, in July the company “completely shut down several of its Texas data centers” in support of the “Electric Reliability Council of Texas (ERCOT), which manages the state’s power grid. . The company reports that he has reduced electricity demand by 8,157 megawatt hours (MWh).

Residents of many parts of Texas experienced several consecutive days of temperatures above 100 degrees Fahrenheit in July. Riot Blockchain, which also hosts a mining operation in Texas, reported a 24% drop in BTC production from June to July, from 421 to 318.

Related: Will the Bitcoin mining industry collapse? Analyst explains why the crisis really is an opportunity

Core Scientific CEO Mike Levitt said in July that the company plans to expand its data center hosting capacity by 75 MW, targeting a hash rate of 30 EH/s by the end of 2022. BTC was worth about $28 million at the time of issuance, with over 7,000 BTC sold for $167 million in June and 1,975 BTC for $44 million in July.

The mining company plans to report its second quarter 2022 financial results on August 11.