$1.4 billion of bitcoin mined last year by once bankrupt Core Scientific

Earlier this year, the crypto mining firm Core Scientific emerged from bankruptcy and had its shares relisted on Nasdaq. On Tuesday, the company said that last year, it mined 19,274 bitcoin, worth about $1.4 billion at current prices.

Core Scientific reported on Tuesday that it had self-mined 13,762 bitcoin for its own account on top of “an estimated 5,512 for our hosting clients’ accounts.” The company also reported a net loss of $195.7 million, which it said was an improvement of $239.2 million.

“In 2023, Core Scientific earned more self-mined bitcoin than any other listed miner in North America,” Core Scientific CEO Adam Sullivan said in an earnings statement. “We have now emerged from our restructuring a stronger, more focused and more productive company with a plan for self-mining growth of more than 20 exahash.”

Texas-based Core Scientific started trading again on Nasdaq in January after completing a reorganization following its 2022 bankruptcy filing. At the time, the company said it intends to grow its mining capacity by 50% in the next four years.

North American footprint

The company’s bankruptcy was, in part, caused by the decline in the price of bitcoin during the downturn. Bitcoin’s price has since risen substantially, reaching an all-time high this month.

Core Scientific also said on Tuesday it owns and manages 724 megawatts of infrastructure, which it calls “the largest owned infrastructure footprint among publicly listed miners in North America.”

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