Core Scientific Announces Expansion Into North Dakota

BELLEVUE, Wash., May 5, 2021 /PRNewswire/ -- Core Scientific (the "Company"), the leader in customizable infrastructure and software solutions for Artificial Intelligence and Blockchain, today announced that it has expanded its footprint with its agreement to develop its sixth mining and colocation hosting facility in Grand Forks, North Dakota, to support nearly 3 exahash of computational power in the first phase. The new site enables the Company to increase its hosting and mining capabilities at scale and is expected to launch as early as November.

"Our expansion into North Dakota is just one more proof-point showcasing Core Scientific's ability to rapidly scale and achieve operational readiness, all while continuing to seamlessly provide premier solutions for our blockchain and AI customers," said Kevin Turner, Chief Executive Officer of Core Scientific. "We look forward to being a part of the Grand Forks, ND community and contributing to the local economy. With this significant expansion, we remain committed to maintaining 100% net carbon-neutrality and being the leading ESG company in digital asset mining in North America."

Core Scientific's expansion into North Dakota is part of a development partnership with Nodak Electric Cooperative and Minnkota Power Cooperative. The new site is expected to create up to 12 highly skilled, technical local jobs at the facility in 2021.

"We are grateful to be the site of Core Scientific's expansion into North Dakota," said Grand Forks Mayor Brandon Bochenski. "We look forward to the opportunities this rapidly-growing industry will bring Grand Forks and the addition of many high-paying skilled and technical jobs in our community."

"It's been a pleasure for the EDC to work with the Core Scientific team in the development of this exciting project," said Keith Lund, President & CEO of the Grand Forks Region Economic Development Corporation. "Their decision to develop a state-of-the-art data center in Grand Forks is evidence that the city and state have created an environment conducive to attracting these types of technology investments. Nodak Electric Cooperative and Minnkota Power played a key role as well, highlighting our region's robust electric infrastructure, high service standards and affordable utility rates. We are proud to welcome Core Scientific to Grand Forks."

The announcement comes on the heels of Core Scientific's latest purchase agreement with Bitmain, the industry-leading blockchain mining equipment manufacturer, which more than doubled its fleet of digital asset mining infrastructure to further solidify its position as the largest provider of hosting services in North America. The expansion into North Dakota will be supported by this latest Bitmain purchase.