7th Bitcoin Miner from Wall Street Reports a Drop in BTC Production in November

Core Scientific (NASDAQ: CORZ), one of the publicly listed Bitcoin miners from Wall Street, reported a decline in BTC production for November, aligning with a broader industry trend. The company continues to pursue its strategic expansion plans in Texas, according to the monthly operational update released today (Thursday).

Core Scientific Reports Decreased Bitcoin Production in November

The blockchain infrastructure company, one of the biggest Wall Street BTC companies based on the market cap, mined 314 Bitcoin in November, marking a 14.9% decrease from October's 369 Bitcoin. Daily production averaged 10.5 Bitcoin, compared to 11.9 in the previous month, while maintaining a self-mining fleet efficiency of 24.8 J/TH.

Although Bitcoin reached record highs in November, nearing the $100,000 mark, the increase in mining difficulty led to lower production by miners. However, they still earned approximately 25% more than in October.

Among other major Wall Street-listed miners, results also declined. CleanSpark (NASDAQ: CLSK) produced 622 BTC, while Riot Platforms (NASDAQ: RIOT) followed with 495 BTC. Bitfarms (NASDAQ: BITF) and Cipher Mining (NASDAQ: CIFR) reported similar outputs of 204 and 202 BTC respectively, highlighting the intense competition in the mid-tier segment. TeraWulf (NASDAQ: WULF) completed the group with 115 BTC mined during the month.

MARA Holdings (NASDAQ: MARA), the largest publicly listed cryptocurrency mining company, was the only one to achieved a higher Bitcoin production, increasing its output by 26% to 907 BTC in November.

Moving back to Core Scientific, the company's total energized hash rate stood at 20.3 EH/s by month-end, operating approximately 172,000 Bitcoin miners across its facilities. Self-mining operations accounted for 19.3 EH/s, representing about 96% of the company's total mining capacity.

More Details from Core Scientific

Core Scientific secured approval from the Denton City Council to expand its Texas operations, increasing its power allocation to 394 MW. This expansion aligns with the company's broader strategy to add 300 MW of critical IT load across existing facilities.

The hosting services segment showed decreased activity, with customer-owned miners earning an estimated 29 Bitcoin in November, down from 52 in October. The company currently hosts approximately 7,200 customer-owned miners, representing 4% of total operations.

Financial operations remained stable, with Bitcoin sales generating approximately $23.2 million in proceeds from 272 Bitcoin sold during November. The company continued its commitment to grid stability, contributing 23,309 megawatt hours to local electrical grids through strategic power consumption management.