From Bankruptcy to Booming: Core Scientific Signs Major Contracts – 250

Amid bankruptcy core scientific assigns Bitcoin mining hosting contracts for Almost 18 000 machines the minor sign Deals with three firms to host rigs at Sites where the Celsius mining fleet was Recently unplugged core scientific Assigned contracts to host almost 18 000 Bitcoin mining rigs with three firms as It negotiates its way through chapter 11 Bankruptcy has said in the Friday press Release the contracts are the latest Indication the prospects for the largest Publicly listed Minor by computing power Or hash rate might be improving after it Started bankruptcy proceedings in December of 2022 the change in market Conditions since then led a group of the Firm's Equity holders to point out in March that the firm's financial position Had improved significantly core Scientific will host 6914 mining rigs For Green Ridge generation Holdings ten Thousand units for alt Alliance and 1021 For LM funding once fully installed in May they will bring the toll full number Of machines the firm is hosting to about Seventy thousand that is on top of the 155 000 machines it uses to mine for Itself as of March end the contracts are A mix of variable pricing and proceeds Sharing deals The Firm said the 18 000 Machines will be hosted in core Scientific sites in Dalton Georgia Calvert City Kentucky and Denton Texas

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Those are all very hot sites too so I Would expect the summer and winter Cycles in the United States to play an Effect on this hash rate and we could See of course a significant decrease in The difficulty of Bitcoin running into The summer that's a strategic point that You need to take into consideration when You're considering these purchases right Now and also your designs when building Out a Bitcoin mining facility or a Mining facility in general right After the chapter 11 filing core Scientific shutdown 37 000 rigs Belonging to Celsius Network's mining Arm which is also in bankruptcy Proceedings as the two are quarreling Over the services agreement core Scientifics Equity traded over the Counter has gained a 187 percent since The start of the Year trading view data Shows the shares are now at 40 percent The Miner has a 175 megawatts of Available hosting capacity in its Denton Texas facility and is developing another Another 950 megawatts in West Texas and Oklahoma now Oklahoma's been absolutely Busting out with cryptocurrency mining That is where everybody's heading right Now it's been really interesting but That is going to have a significant Impact on hash rates moving into summer Months thanks for checking out this clip From the crypto mining show you can

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