Core Scientific, Inc. announced the start of a project to complete a 72-megawatt expansion of the Company's Denton, Texas data center. In addition to its 745-megawatts of operational infrastructure, Core Scientific owns 372 megawatts of partially built infrastructure at its two Texas data centers. The start of the Denton data center project represents the beginning of a multi-year program to complete the partially built infrastructure and expand the Company's capacity by 372-megawatts.

The goal of this expansion program is to deliver more than 20 additional exahash of mining hash rate at an average incremental cost of approximately $200,000 per megawatt, or less than half the cost of new construction or asset acquisition. Core Scientific's Denton, Texas data centers currently operates 125 megawatts of bitcoin mining with total contracted power of approximately 300 megawatts. The Company's Pecos, Texas data center currently operates 71 megawatts of bitcoin mining across two sites with total contracted power of 250 megawatts.