Core Scientific To Expand Its Denton, Texas Bitcoin Mining Data Center By 72 Megawatts
Portfolio Pulse from Benzinga Newsdesk
Core Scientific, Inc. (NASDAQ:CORZ) announced a 72-megawatt expansion of its Denton, Texas bitcoin mining data center, increasing its total operational infrastructure to 197 MW and company-owned infrastructure to 817 MW. The expansion, expected to complete by Q2 2024, emphasizes the strategic advantage of owning infrastructure and access to power. This move is part of a broader plan to complete 372 MW of partially built infrastructure in Texas, aiming to add over 20 exahash of mining hash rate at a cost significantly lower than new construction. The company's data centers are also positioned to host alternative forms of compute, offering financial benefits to high-performance computing hosting clients.
April 16, 2024 | 1:17 pm
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Core Scientific announces a significant expansion of its Denton, Texas data center, aiming to enhance its bitcoin mining capacity and infrastructure efficiency. This strategic move is expected to strengthen its position in the post-halving environment and offer potential financial benefits through alternative compute hosting.
The expansion of Core Scientific's data center by 72 megawatts directly impacts the company's operational capacity and strategic positioning in the bitcoin mining industry. By increasing its infrastructure and focusing on efficiency, CORZ is likely to enhance its competitiveness and profitability in the short term. The emphasis on owning and controlling infrastructure, coupled with the potential for hosting alternative forms of compute, presents a dual pathway for growth and diversification. Given the scale of the expansion and the strategic advantages outlined, this development is highly relevant and important for investors in CORZ, with a positive outlook on its short-term stock price impact.
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