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Core Medical greater Bitcoin manufacturing by way of 10% in July amid Texas energy cuts

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Crypto mining company Core Medical reported its operations produced 1,221 Bitcoin (BTC) in July whilst the corporate powered down a number of occasions according to call for at the Texas energy grid.

In a Friday announcement, Core Medical said its month-over-month Bitcoin manufacturing had greater from 1,106 in June to at least one,221 in July — kind of 10.4%. The company reported curbing operations “because of excessive temperatures at more than one knowledge facilities,” but in addition greater the choice of its self-mining servers and hashrate by way of 6%, to 109,000 and 10.9 exahashes consistent with 2d (EH/s), respectively.

In step with Core Medical, the corporate “utterly powered-down its Texas knowledge middle operations on a number of events” in July to make stronger the Electrical Reliability Council of Texas, or ERCOT, which controls the state’s energy grid. The company reported curbing its energy calls for by way of 8,157 megawatt-hours (MWh).

Citizens in lots of portions of Texas skilled a number of consecutive days of temperatures over 100 levels Fahrenheit in July, with ERCOT having forecast demand for electricity may have surpassed the to be had provide. Rebel Blockchain, which additionally hosts mining operations in Texas, reported a 24% drop in its BTC production from June to July, from 421 to 318. In step with CEO Jason Les, the company curtailed operations by way of 11,717 MWh.

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Core Medical CEO Mike Levitt mentioned in July the company planned to expand its knowledge middle webhosting capability by way of 75 MW, aiming to have a hash price of 30 EH/s by way of the top of 2022. As of July 31, the corporate reported it held 1,205 BTC value kind of $28 million on the time of newsletter, having sold more than 7,000 BTC for $167 million in June and 1,975 BTC for $44 million in July.

The mining company plans to unlock its income document from the second one quarter of 2022 on Aug. 11.