Listed miner Core Scientific plans to increase computing power to 42 EH/s by the end of the year

Core Scientific (CORZ), the largest listed bitcoin miner in North America, reportedly plans to reach 40 EH/s-42 EH/s by the end of this year to cement its lead. The computing power will be roughly evenly distributed between self-mining and custodial operations, the company said in Monday's announcement. Core Scientific said its building and power teams are on track to have 1.2 GW-1.3 GW of operational infrastructure by the end of the year. Core Scientific CEO Mike Levitt said, "In 2021, we operate data centers in four states with a combined mining capacity of 13.5 EH/s. Two months later, we operate in five states and are considering the sixth state, and increase our computing power to 15.9 EH/s." The company also announced preliminary 2021 revenue of $515 million to $545 million, compared with FactSet analysts' estimates of $469.9 million. In addition, preliminary adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at $225 million to $235 million, compared with analysts' consensus estimate of $205.5 million. Shares in the company rose 3.6% on Monday. As previously reported, Bitcoin mining company Core Scientific was officially listed on the Nasdaq stock exchange on January 20.