News

Core Scientific And LM Funding Scale Up With 900 New Mining Machines

Key Points:

  • Core Scientific to add 900 mining machines for LM Funding America.
  • LM Funding will expand device network to operate 4,600 mining machines with 470 petahashes of mining capacity.
  • Core Scientific operates about 213,000 miners with 22.3 exahashes of mining capacity and filed for bankruptcy in December 2022.
According to a press release from LM Funding America on April 12, Core Scientific, a company specializing in blockchain infrastructure and cryptocurrency mining, is set to add 900 new mining machines for LM Funding America.

This latest addition will bring the total number of mining machines hosted by Core Scientific on behalf of LM Funding America to 3,900, with 400 petahashes of mining capacity.

With the new mining machines, LM Funding America will have a total of 4,600 mining machines and will see its mining capacity increase to 470 petahashes. While LM Funding America did not state where its other mining machines are located, it is evident that the addition of the new devices will significantly boost its mining capabilities.

According to Core Scientific’s February 2023 production and operations updates, the company operated around 213,000 mining machines, with a total mining capacity of 22.3 exahashes (or 22,300 petahashes). This figure includes both Core Scientific’s own mining machines and colocated devices operated on behalf of other companies.

Once the additional LM Funding America mining machines are online, they will seemingly account for approximately 1.8% of CS’s hashpower and device count.

Despite being a major player in the cryptocurrency mining industry, Core Scientific has experienced financial difficulties, having filed for bankruptcy with at least $1 billion in liabilities in December 2022. However, the company continues to operate despite these challenges.

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

Annie

Coincu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

1 hour ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

3 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

3 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

3 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

4 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

5 hours ago

This website uses cookies.