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Core Scientific is one such unique company which offers mining as well as hosting operations.
Core Scientific announced signing a deal aiming to host 75 megawatts of ASIC. The information about the company with whom the largest bitcoin miner in terms of total computing power has come into this agreement, is not disclosed yet. Server deployment is said to get started in the third quarter of 2022 and anticipated to get completed by the end of this year.
According to the agreement, this allocation of ASIC servers will make approx 50 million USD in terms of annual revenue after their full deployment. Provision of prepayments was also mentioned in the agreement that will fund the requirements of additional infrastructure while setting up the ambitious 75MW hosting. The company is expecting approx 325K ASIC servers operating as result of these efforts.
Hosting is said to be a service provided by the data centers to crypto miners. This way, customers willing to mine their preferable crypto asset can store their personal mining rigs, they can pay a fee for this and they would not have to build the required infrastructure by themselves.
Core Scientific is special in terms of serving both self-mining and hosting operations. As per the reports, the mining company earning from its hosting business alone totalled for approx 33.2 million USD. This holds about 17% of its entire revenue during the similar timeframe.
From the last several months, there is a surge in demand for crypto miners hosting. This was due to delays related to infrastructure and power-supply. Also the lack of capital was also responsible for causing hindrance for crypto miners. It has been seen recently that crypto miners are now having more mining rigs that outnumbers the existing power supply.
CEO of Core Scientific—Mike Levitt, said that the occurrence of this agreement showcases the continued confidence of customers in the ability of the crypto mining company. They believe that it could offer the blockchain data center with best-in-class solutions. He further added that the company is focused towards execution of their plans for 2022.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
