Bitmain Invests $53.9 Million in Core Scientific to Expand Bitcoin Mining Capacity

Bitmain to invest $53.9M in Core Scientific via cash and equity financing for new bitcoin mining servers
Expands Bitmain and Core Scientific's longstanding relationship as supplier and hoster
Core Scientific to receive 27,000 new high-efficiency Bitmain S19J XP mining servers
Adds potential for over 4 exahashes to Core Scientific's self-mining hashrate
Companies to jointly upgrade Bitmain miners hosted at Core Scientific data centers

businesswire.com

Relevant topic timeline:

8/24/2023

Tom Lee Says Bitcoin Will Break Above $200,000 This Cycle: 'It's Pretty Battle Tested' - BlackRock (NYSE:BLK)

Head of Research at FS Insight, Tom Lee, predicts that Bitcoin's network value and scarcity could push its price over $200,000, while other experts, including Ark Invest CEO Cathie Wood, also foresee significant growth for the cryptocurrency. Lee highlights Bitcoin's resilience and regulatory scrutiny as well as interest from traditional financial giants such as BlackRock and Citadel.

8/24/2023

3 Artificial Intelligence (AI) Stocks With More Potential Than Any Cryptocurrency

Summary: Bitcoin is projected to have a compound annual growth rate (CAGR) of 27% through 2030, while the artificial intelligence market is expected to have a CAGR of 36%, making stocks in the AI sector potentially more lucrative than cryptocurrencies like Bitcoin. Three AI stocks worth considering are Advanced Micro Devices, Amazon, and Apple.

9/6/2023

Here’s why Bitcoin will hit $22K soon

Bitcoin is predicted to reach $22,000 due to worsening investor sentiment and the impact of lawsuits against Binance and Coinbase, while BitMEX co-founder Arthur Hayes claims the bull market began in March.

9/25/2023

MicroStrategy Buys $150M in Bitcoin, Now Holds Over 158,000 BTC Acquired for $4.7B

Software developer MicroStrategy has purchased nearly $150 million worth of bitcoin between August and September, bringing its total holdings to approximately 158,245 BTC.

10/6/2023

Tim Draper Bullish on Bitcoin and AI, Touts Robinhood Returns and Virtual Nation Experiment

Venture capital investor Tim Draper discusses his excitement for artificial intelligence and the potential of Bitcoin reaching $250,000, while also sharing his investments in companies like Otter.ai and Robinhood, as well as his experiment with a Bitcoin-based digital nation called Draper Nation.

10/19/2023

British AI Chipmaker Graphcore Faces Uncertain Future After Revenue Plunge and Mounting Losses

British chipmaker Graphcore, which was once valued at $3 billion and touted as a rival to Nvidia in the AI chip market, is facing significant financial challenges and is in need of further funding to continue its operations.

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Posted 9/22/2023, 3:12:00 AM

Bitmain Invests $53.9 Million in Core Scientific to Expand Bitcoin Mining Capacity

Bitmain to invest $53.9M in Core Scientific via cash and equity financing for new bitcoin mining servers
Expands Bitmain and Core Scientific's longstanding relationship as supplier and hoster
Core Scientific to receive 27,000 new high-efficiency Bitmain S19J XP mining servers
Adds potential for over 4 exahashes to Core Scientific's self-mining hashrate
Companies to jointly upgrade Bitmain miners hosted at Core Scientific data centers

businesswire.com

Relevant topic timeline:

8/24/2023

Tom Lee Says Bitcoin Will Break Above $200,000 This Cycle: 'It's Pretty Battle Tested' - BlackRock (NYSE:BLK)

8/24/2023

3 Artificial Intelligence (AI) Stocks With More Potential Than Any Cryptocurrency

9/6/2023

Here’s why Bitcoin will hit $22K soon

9/25/2023

MicroStrategy Buys $150M in Bitcoin, Now Holds Over 158,000 BTC Acquired for $4.7B

Software developer MicroStrategy has purchased nearly $150 million worth of bitcoin between August and September, bringing its total holdings to approximately 158,245 BTC.

10/6/2023

Tim Draper Bullish on Bitcoin and AI, Touts Robinhood Returns and Virtual Nation Experiment

10/19/2023

British AI Chipmaker Graphcore Faces Uncertain Future After Revenue Plunge and Mounting Losses