Core Scientific will add 900 mining machines for LM Funding America, according to a press release from the latter company on April 12.
LM Funding will expand device network
The expanded contract will see Core Scientific host a total of 3,900 mining machines with 400 petahashes of mining capacity on behalf of LM Funding.
LM Funding also said that the additions would raise the number of mining machines that it operates to 4,600 and would raise its total mining capacity to 470 petahashes. The company did not state where its other mining devices are located.
LM Funding said that the 900 new devices would be brought online by the end of April.
Core Scientific’s mining capacity
As of February 2023, Core Scientific operated about 213,000 miners with 22.3 exahashes (or 22,300 petahashes) of mining capacity. This includes both Core Scientific’s own mining machines as well as colocated devices operated on behalf of other companies.
As such, LM Funding’s mining machines will seemingly account for approximately 1.8% of Core Scientific’s hashpower and device count once the addition is complete.
Despite Core Scientific’s high standing in the crypto mining industry, the company faces financial difficulties. It filed for bankruptcy with at least $1 billion in liabilities in December 2022. The company nevertheless continues to operate.
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