Earlier this year, cryptocurrency miner Core Scientific emerged from bankruptcy and relisted its stock on Nasdaq. On Tuesday, the company said it mined 19,274 bitcoins last year, worth about $1.4 billion at current prices.
Core Scientific reported on Tuesday that it had self-mined 13,762 bitcoins for its own accounts, in addition to “approximately 5,512 for hosted customer accounts.” The company also reported a net loss of $195.7 million, an improvement from $239.2 million.
“In 2023, Core Scientific mined more Bitcoin of its own than any other publicly traded miner in North America,” Core Scientific CEO Adam Sullivan said in an earnings report. “We have now completed our restructuring into a stronger, more focused and more productive company with plans to grow more than 20 of our own mines.”
Texas-based Core Scientific resumed trading on Nasdaq in January after completing a reorganization for 2022 and beyond. file for bankruptcy. at that time, teaThe company said it plans to increase mining capacity by 50% over the next four years.
North American Footprint
The company’s bankruptcy was partly caused by the decline in Bitcoin prices during the recession. Bitcoin BTC
-1.96%
Core Scientific also said Tuesday that it owns and manages 724 megawatts of infrastructure, “the largest owned infrastructure footprint of any publicly traded North American miner.”
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About the author
RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal and has covered companies including Disney, Netflix, and Warner Bros. and the creator economy, with a primary focus on technological innovation across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a variety of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.