{"id":12786,"date":"2022-08-05T21:41:57","date_gmt":"2022-08-05T21:41:57","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/core-scientific-increased-bitcoin-production-by-10-in-july-amid-texas-power-cuts\/"},"modified":"2022-08-05T21:41:58","modified_gmt":"2022-08-05T21:41:58","slug":"core-scientific-increased-bitcoin-production-by-10-in-july-amid-texas-power-cuts","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/core-scientific-increased-bitcoin-production-by-10-in-july-amid-texas-power-cuts\/","title":{"rendered":"Core Scientific increased Bitcoin production by 10% in July amid Texas power cuts"},"content":{"rendered":"<p><\/p>\n<div data-v-28d77a7a=\"\">\n<p>Crypto mining firm Core Scientific reported its operations produced 1,221 Bitcoin (BTC)\u00a0in July even as the company powered down several times in response to demand on the Texas power grid.<\/p>\n<p>In a Friday announcement, Core Scientific said its month-over-month Bitcoin\u00a0production had increased from 1,106 in June to 1,221 in July \u2014 roughly 10.4%. The firm reported curtailing operations \u201cdue to extreme temperatures at multiple data centers,\u201d but also increased the number of its self-mining servers and hashrate by 6%, to 109,000 and 10.9 exahashes per second (EH\/s), respectively.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">JULY 2022 HIGHLIGHTS:<br \/>-1,221 <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> self-mined<br \/>-10.9 EH\/s self-mined<br \/>-+190,000 ASIC servers in operation<br \/>-8.4 EH\/s colocation (hosting)<br \/>-Deployed first BITMAIN ANTMINER S19 XPs in the United Stateshttps:\/\/t.co\/Qt2Vke84yz<\/p>\n<p>\u2014 Core Scientific (@Core_Scientific) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/Core_Scientific\/status\/1555618407713804288?ref_src=twsrc%5Etfw\">August 5, 2022<\/a><\/p><\/blockquote>\n<p>According to Core Scientific, the company \u201ccompletely powered-down its Texas data center operations on several occasions\u201d in July to support the Electric Reliability Council of Texas, or ERCOT, which controls the state\u2019s power grid. The firm reported curtailing its power demands by 8,157 megawatt-hours (MWh).<\/p>\n<p>Residents in many parts of Texas experienced several consecutive days of temperatures over 100 degrees Fahrenheit in July, with ERCOT having\u00a0forecast demand for electricity could have surpassed the available supply. Riot Blockchain, which also hosts mining operations in Texas, reported a 24% drop in its BTC production from June to July, from 421 to 318. According to CEO Jason Les, the firm curtailed operations by 11,717 MWh.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Will the Bitcoin mining industry collapse? Analysts explain why crisis is really opportunity<\/em><\/strong><\/p>\n<p>Core Scientific CEO Mike Levitt said in July the firm planned to expand its data center hosting capacity by 75 MW, aiming to have a hash rate of 30 EH\/s by the end of 2022. As of July 31, the company reported it held 1,205 BTC worth roughly $28 million at the time of publication, having sold more than 7,000 BTC for $167 million in June and 1,975 BTC for $44 million in July. <\/p>\n<p>The mining firm plans to release its earnings report from the second quarter of 2022 on Aug. 11.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto mining firm Core Scientific reported its operations produced 1,221 Bitcoin (BTC)\u00a0in July even as the company powered down several times in response to demand on the Texas power grid. In a Friday announcement, Core Scientific said its month-over-month Bitcoin\u00a0production had increased from 1,106 in June to 1,221 in July \u2014 roughly 10.4%. The firm [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-12786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Core Scientific increased Bitcoin production by 10% in July amid Texas power cuts | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/core-scientific-increased-bitcoin-production-by-10-in-july-amid-texas-power-cuts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Core Scientific increased Bitcoin production by 10% in July amid Texas power cuts | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"Crypto mining firm Core Scientific reported its operations produced 1,221 Bitcoin (BTC)\u00a0in July even as the company powered down several times in response to demand on the Texas power grid. In a Friday announcement, Core Scientific said its month-over-month Bitcoin\u00a0production had increased from 1,106 in June to 1,221 in July \u2014 roughly 10.4%. 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