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Core
Scientific (NASDAQ: CORZ), one of the publicly listed Bitcoin miners from Wall
Street, reported a decline in BTC production for November, aligning with a
broader industry trend. The company continues to pursue its strategic expansion
plans in Texas, according to the monthly operational update released today (Thursday).
Core Scientific Reports
Decreased Bitcoin Production in November
The
blockchain infrastructure company, one of the biggest Wall Street BTC companies based on the market cap, mined 314 Bitcoin in November, marking a
14.9% decrease from October’s 369 Bitcoin. Daily production averaged 10.5
Bitcoin, compared to 11.9 in the previous month, while maintaining a
self-mining fleet efficiency of 24.8 J/TH.
Although
Bitcoin reached record highs in November, nearing
the $100,000 mark, the increase in mining difficulty led to lower
production by miners. However, they
still earned approximately 25% more than in October.
Among other
major Wall Street-listed miners, results
also declined. CleanSpark (NASDAQ: CLSK) produced 622 BTC, while Riot
Platforms (NASDAQ: RIOT) followed with 495 BTC. Bitfarms (NASDAQ: BITF) and
Cipher Mining (NASDAQ: CIFR) reported similar outputs of 204 and 202 BTC
respectively, highlighting the intense competition in the mid-tier segment.
TeraWulf (NASDAQ: WULF) completed the group with 115 BTC mined during the
month.
MARA
Holdings (NASDAQ: MARA), the largest publicly listed cryptocurrency mining
company, was the only one to achieved a higher Bitcoin production, increasing
its output by 26% to 907 BTC in November.
Moving back
to Core Scientific, the company’s total energized hash rate stood at 20.3 EH/s
by month-end, operating approximately 172,000 Bitcoin miners across its
facilities. Self-mining operations accounted for 19.3 EH/s, representing about
96% of the company’s total mining capacity.
More Details from Core
Scientific
Core
Scientific secured approval from the Denton City Council to expand its Texas
operations, increasing its power allocation to 394 MW. This expansion aligns
with the company’s broader strategy to add 300 MW of critical IT load across
existing facilities.
The hosting
services segment showed decreased activity, with customer-owned miners earning
an estimated 29 Bitcoin in November, down from 52 in October. The company
currently hosts approximately 7,200 customer-owned miners, representing 4% of
total operations.
Financial
operations remained stable, with Bitcoin sales generating approximately $23.2
million in proceeds from 272 Bitcoin sold during November. The company
continued its commitment to grid stability, contributing 23,309 megawatt hours
to local electrical grids through strategic power consumption management.
This article was written by Damian Chmiel at www.financemagnates.com.
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