Bitmain to provide 27k Bitmain S19J XP 151 TH Bitcoin mining servers to Core Scientific in exchange for $23.1M cash and $53.9M stock.
Core Scientific, Inc., a prominent player in high-performance blockchain computing data centers and software solutions, has revealed that Bitmain, a global leader in manufacturing digital currency mining servers, will be making a significant investment of $53.9 million in it. This move further strengthens the longstanding relationship between the two companies.
According to the purchase agreement terms, Bitmain will provide Core Scientific with 27,000 Bitmain S19J XP 151 TH bitcoin mining servers. In return, Bitmain will receive $23.1 million in cash and $53.9 million in Core Scientific common stock. Adam Sullivan, CEO of Core Scientific, expressed his honor in expanding their significant partnership with Bitmain. He emphasized their joint efforts to professionalize the industry and pave the way for the long-termBitmain’s Pivotal Role in Core Scientific’s Success
The 27,000 units from the agreement are expected to be received and activated in the fourth quarter of 2023, potentially adding 4.1 exahashes to Core Scientific’s self-mining hash rate. Additionally, the two companies have agreed to collaborate on upgrading Bitmain’s prior-generation miners hosted at Core Scientific’s data centers with S19J XP servers, further increasing the total hash rate.
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