Core Scientific (CORZ) Announces August Updates

Core Scientific, Inc. (NASDAQ: CORZ) ("Core Scientific" or “the Company”), a leader in high-performance blockchain computing data centers and software solutions, today announced production and operational updates for August 2022.

“Self-mining and colocation activities continued to grow in August. We deployed more than 25,000 new ASIC servers in August, increasing our total hashrate to over 21 EH/s. Both our total hashrate and self-mining hashrate represent the largest operating capacity of any listed company in North America,” said Mike Levitt, Core Scientific Chief Executive Officer.

Data Centers

As of month end, the Company operated 225,451 ASIC servers for both colocation and self-mining, representing a total of 21.54 EH/s. The Company’s Georgia, Kentucky, North Carolina, and North Dakota data center facilities continue to operate at capacity. The Company is continuing to build additional capacity in Texas.

Self-Mining

Core Scientific’s self-mining operations produced 1,334 bitcoins in August. Self-mining bitcoin production benefited from the deployment of approximately 17,000 new servers during the month. Increased curtailment activity across multiple data centers limited production advances.

The Company expanded its fleet of self-mining servers during the month to 127,716, increasing hashrate to 12.69 EH/s. The Company expects to deploy approximately 43,000 additional self-mining ASIC servers before the end of 2022. As of August month end, self-mining accounted for approximately 59% of the Company’s total hashrate.

Colocation Services

In addition to its self-mining fleet, as of August 31, 2022, Core Scientific provided data center colocation services, technology and operating support for more than 97,000 customer-owned ASIC servers. As of August month end, colocation services accounted for approximately 41% of the Company’s total hashrate. Inquiries for colocation services continue to exceed the Company’s available infrastructure.

Bitcoin Sales and Liquidity

During the month of August, the Company sold 1,125 bitcoins at an average price of $23,014 per bitcoin for total proceeds of approximately $25.9 million. As of August 31, 2022, the Company held 1,409 bitcoins and approximately $47.2 million in cash.

Grid Support

In the month of August, the Company powered down its Texas and other data center operations on several occasions. Curtailments in August totaled 11,057 megawatt hours. Core Scientific works with the communities and utility companies in which it operates to enhance electrical grid stability.

Investor Conferences

Core Scientific’s management will be participating in the following investor conferences in the month of September:

• H.C. Wainwright 24th Annual Global Investment Conference on September 12-14
• BTIG 2nd Annual Digital Assets Conference on September 19-20
• B. Riley Securities 2nd Annual Crypto Conference on September 29
• Bank of America Virtual Crypto Mining Day on September 29

The times and links to live webcasts and replays of available management presentations will be provided in the Investor Relations section of the Core Scientific website: https://investors.corescientific.com/investors/events-and-presentations/default.aspx

Replays of available webcasts will be available for 30 days.

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