In the face of challenges including a downturn in bitcoin prices and high operational costs, Core Scientific managed to produce bitcoins with an approximate value of $540 million in 2023. Looking forward, the company has outlined plans for a considerable expansion of its mining capacity over the next four years, signaling a robust commitment to its core business of cryptocurrency mining.
The broader crypto mining sector is witnessing a resurgence of investor confidence, as indicated by the rising stock prices of industry counterparts such as Marathon Digital (NASDAQ:MARA), Riot Blockchain (NASDAQ:RIOT), and CleanSpark (NASDAQ:CLSK).
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Source: Cryptocurrency - investing.com
