Bitcoin miner and hosting provider Core Scientific mined 1,213 BTC in September, down 9% month-over-month.
At the same time, the company expanded its self-mining hash rate by 2.4%, according to an operational update.
“Bitcoin production was impacted across the company’s data centers due to several unique circumstances, including severe weather events and electrical equipment manufacturer defects,” said CEO Mike Levitt.
Additionally, the company curtailed power in several sites, including in Texas, for a total of 8,774-megawatt hours.
Operations were also likely affected by the 9.26% increase in mining difficulty posted on Aug. 31 — the largest since January.
Core Scientific sold 1,576 BTC at an average price of $20,460, totaling $32.2 million in revenue. As of Sept. 30, it held 1,051 BTC and $29.5 million in cash.
Last week, the mining subsidiary of bankrupt lender Celsius filed a motion to enforce the automatic stay against Core Scientific, which provides it with hosting services. Celsius further claimed that Core Scientific violated bankruptcy terms.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).
Source: https://www.theblock.co/post/175033/core-scientific-mines-9-less-btc-in-september-while-expanding-hash-rate-2-4?utm_source=rss&utm_medium=rss