Core Scientific Sold Over 1,100 BTC in August for $26 Million

Core Scientific, a Texas-based cryptocurrency mining company, produced 1,334 BTC last August and sold 1,125 BTC for an estimated $25.9 million.

Core Scientific sold over 7,000 bitcoins for $167 million in June, when the cryptocurrency market and bitcoin were at their lowest point in many years.

One of the most prominent crypto mining companies revealed that August was a very successful month. It has deployed thousands of ASIC servers over the last four weeks to increase its self-mining rate.

“Self-mining, colocation and other activities continued to increase in August. In August, we deployed more than 25.000 ASIC servers, bringing our total hashrate up to 21 EH/s. Mike Levitt, CEO of the company, stated that both our total and self-mining havehrates represent the largest operating capacities of any North American listed company.”

The production was also at a high level. Core Scientific was able to mine 1,334 BTC last month thanks to the installation of 17,000 additional servers. Core Scientific will be adding 43,000 self-mining ASIC server to its operations by 2022. Core Scientific sold 1,125 BTC for an average of $23,014 per coin. It had 1,409 BTC, or nearly $28 million at current prices, and $47.2 million in cash. It entered NASDAQ by completing a $4.3B SPAC (special purpose acquisition corporation) deal with Power & Digital Infrastructure Acquisition Corp. In 2021, its stock prices hovered around $10. They are currently trading at $2.10 due to the bear market.

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