It is the latest price increase for Core Scientific, which has hiked its prices by 20%-25% in recent months because of rising energy expenses. With the price of Bitcoin remaining stubbornly around $20,000, the increased expenditures make it even more difficult for miners to break even.
Core Scientific operates a hosting and mining company with 22.5 exahash/second (EH/s) processing power from its own and others in data centers around the United States. According to the most recent financial report, the corporation is losing money on hosting operations.
Since energy and natural gas prices have risen dramatically, cheap hosting has become nearly hard to acquire in the United States. Meanwhile, European miners have either shut down or relocated to the continent’s north in pursuit of inexpensive power to stay viable.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Robinhood Exec Dan Gallagher declined consideration to lead the SEC, affirming his commitment to Robinhood…
Discover why Qubetics, Fantom, and Immutable X are the best cryptos to buy in November…
Sui Foundation partners with Franklin Templeton Digital Assets to enhance DeFi solutions on the blockchain.
See how Bitcoin confronts $99K resistance, Avalanche enjoys a 23% rise, & BDAG achieves a…
Gros Islet, St. Lucia, 22nd November 2024, Chainwire
Nov 18th, Panama - Gate.io, a global leader in digital asset trading, has officially unveiled…
This website uses cookies.