Texas-based crypto mining firm Core Scientific Inc. has managed to ink three new hosting contracts despite filing for Chapter 11 bankruptcy protection in the United States. This is a significant achievement for the company, given that its financial issues led some clients to terminate their hosting agreements.

The company announced hosting agreements with Greenidge Generation Holdings, Ault Alliance, and LM Funding to host almost 18,000 mining rigs. This will significantly increase the number of mining rigs the company hosts, bringing the total to 70,000. The new rigs represent a total spec computing power of 1.88 exahashes per second, along with 55 megawatts of data center rack space.

According to a press release from Core Scientific, the mining firm will host 10,000 mining units for Ault Alliance, 6,914 units for Greenidge Generation Holdings, and 1,021 units for LM Funding, bringing the total mining rigs in the new hosting contracts to 17,935. The units will be hosted at the company’s facilities in Georgia, Kentucky, and Texas.

This development comes after Core Scientific filed for Chapter 11 bankruptcy protection in the United States in March 2021. However, the company has continued to operate throughout the bankruptcy proceedings and has managed to secure these new hosting contracts.

Core Scientific announced earlier this month that it was adding 900 mining rigs for LM Funding, which brought the total machines operated on behalf of LM to 3,900. Meanwhile, 3,000 rigs for Ault Alliance are already set up and running. The remaining 7,000 Ault Alliance units and 6,914 Greenidge units will be online and hashing in May.

“The signing of these agreements are illustrative of Core Scientific’s industry leading hosting and mining capabilities and the strong demand for our services within the digital asset mining industry,” said Mike Levitt, Chief Executive Officer of Core Scientific.

Core Scientific provides comprehensive infrastructure and hosting solutions for digital asset mining, including proprietary software, customized hardware, and efficient cooling systems. Despite the bankruptcy filing, the company has continued to expand its operations, and these new hosting agreements are a testament to its growth potential.

The company’s success is indicative of the growing demand for mining services in the digital asset industry. As the price of cryptocurrencies like Bitcoin and Ethereum continues to rise, more companies are seeking to capitalize on the industry’s growth potential.

Overall, Core Scientific’s ability to secure new hosting contracts despite its financial troubles is a promising sign for the company and the broader digital asset mining industry. With demand for these services continuing to rise, it’s likely that Core Scientific will continue to expand its operations and establish itself as a key player in the industry.