Core Scientific, a bitcoin mining company, has announced its return to the NASDAQ stock exchange. Starting January 24, 2024, the company's shares will trade under the tickers CORZ, CORZW, and CORZZ.
Core Scientific has successfully undergone a reorganization process, emerging from #bankruptcy proceedings. In particular, the company managed to reduce its debt obligations by a significant amount of 400 million dollars.
With an impressive arsenal of data centers totaling 724 MW, Core Scientific is poised for even greater success. Over the next four years, the company intends to increase this capacity by 50%. Core Scientific thus aims to reach a total capacity of more than 1 GW by 2027.
"Throughout the reorganization process, Core Scientific has maintained its position as one of the leading and most influential bitcoin miners in North America"shared Core Scientific CEO Adam Sullivan.
According to the data provided, the company mined a total of 19,274 #BTC (equivalent to approximately $767 million) in 2023 alone. Core Scientific is currently deploying 27,000 #Bitmain S19 XP rigs and aims to have another 12,000 Bitmain S21 rigs operational by mid-2024.
Core Scientific's return to the NASDAQ stock exchange thus marks an important milestone for the company. With a successful reorganization, debt reduction and ambitious expansion plans, Core Scientific intends to continue to play an important role in the world of #bitcoin mining.
