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{"id":5250,"date":"2023-09-25T11:21:18","date_gmt":"2023-09-25T11:21:18","guid":{"rendered":"https:\/\/lunu.io\/news\/?p=5250"},"modified":"2023-09-25T11:21:20","modified_gmt":"2023-09-25T11:21:20","slug":"how-will-bitmains-investment-change-core-scientifics-future","status":"publish","type":"post","link":"https:\/\/lunu.io\/news\/how-will-bitmains-investment-change-core-scientifics-future\/","title":{"rendered":"How Will Bitmain’s Investment Change Core Scientific’s Future?"},"content":{"rendered":"\nCore Scientific, Inc., a key figure in high-performance blockchain computing data centers and software, has announced a substantial investment from Bitmain, a leading global producer of digital currency mining servers. This investment, totaling $53.9 million, not only solidifies the bond between the two entities but also emphasizes Bitmain’s unwavering commitment to the North American digital asset mining industry. The two firms have decided to acquire new Bitcoin mining equipment and have also established a fresh hosting agreement.<\/p>\n\n\n\n
The terms of the purchase agreement dictate that Bitmain will supply Core Scientific with a whopping 27,000 Bitmain S19J XP 151 TH bitcoin mining servers. In exchange, Bitmain is set to receive $23.1 million in cash and stocks worth $53.9 million from Core Scientific. The stock’s per-share value will be determined according to a Chapter 11 reorganization plan approved by a bankruptcy court, with approval expected in the upcoming fourth quarter. The S19J XP boasts an impressive efficiency, operating at 21.7 Joules per TH\/s.<\/p>\n\n\n\n