Storm is not a hindrance - Core Scientific mined more BTC than expected

Representatives of the mining company Core Scientific said that in December they managed to get more bitcoins than in October. The most interesting thing in this situation was that December became rich in winter storms, which interfered with the mining process due to problems with electricity in the United States.

According to Core Scientific, they were able to receive 5.8% more BTC in December than in November. This is surprising as the previously mentioned storms have caused the company to cut back on its production.

Core Scientific's bitcoin mining rate increased from 14.5 EH/s to 15.7 EH/s, which was the reason for the increase in bitcoin mining production. In December, many companies were forced to halt their production as power surged constantly and prevented equipment from functioning properly.

One of the largest bitcoin mining companies, Marathon, in turn, reached 23.7 EH/s in December. This figure includes both their personal mining and hosting services for clients. Despite this, the company is doing poorly. The organization filed for bankruptcy under a prearranged deal. The latter will have to turn the majority of Marathon into share capital.

The complexity of bitcoin mining is growing every year and more and more resources have to be spent to get cryptocurrency. In addition, every 4 years there is an act of halving, which reduces the amount of BTC mined by 2 times, which enhances the deflationary nature of the cryptocurrency. 2022 has become an extremely difficult year for the cryptocurrency industry.

In addition to the fact that many exchanges and cryptocurrency organizations closed, the value of the flagship cryptocurrency fell by 70%+. Many miners are now at a loss and faced great difficulties. After a long crypto winter, the digital asset sector may finally show a positive trend in 2023, but there are also suggestions that this may not happen.