Cryptocurrency mining company Core Scientific said its operations produced 1,221 bitcoins (BTC) in July, despite the company shutting down several times due to demand on the Texas power grid.
In Friday’s Core Scientific announcement said its monthly bitcoin production increased from 1,106 in June to 1,221 in July—by about 10.4%. The firm reported a reduction in operations “due to extreme temperatures in several data centers,” but also increased its self-mining servers and hashrate by 6%, to 109,000 and 10.9 exahashes per second (EH/s), respectively.
MAIN EVENTS OF JULY 2022:
-1221 #Bitcoin homemade
-10.9 EH/s for self-mining
-+190,000 ASIC servers in operation
Colocation -8.4 EH/s (hosting)
– Deployed the first BITMAIN ANTMINER S19 XP in the USA.https://t.co/Qt2Vke84yz
— Core Scientific (@Core_Scientific) August 5, 2022
According to Core Scientific, in July, the company “completely shut down its Texas data center several times” to support the Texas Electric Reliability Board, or ERCOT, which oversees the state’s power grid. The firm reported an 8,157 megawatt-hour (MWh) reduction in its electricity requirements.
Residents in many parts of Texas experienced several consecutive days of temperatures above 100 degrees Fahrenheit in July, with ERCOT predicting electricity demand could outstrip available supply. Riot Blockchain, which also mines in Texas, reported a 24% drop in BTC production from June to July, from 421 to 318. According to CEO Jason Les, the company cut operations by 11,717 MWh.
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Core Scientific CEO Mike Levitt said in July that the firm plans to increase its data center capacity by 75 MW, aiming to achieve a hash rate of 30 EH/s by the end of 2022. At press time, BTC was worth roughly $28 million, with over 7,000 BTC traded for $167 million in June and 1,975 BTC for $44 million in July.
The mining company plans to release its second quarter 2022 earnings report on August 11.
Credit : cointelegraph.com