Core Scientific (CORZQ), as part of its Chapter 11 bankruptcy negotiations, has signed contracts with three companies to host nearly 18,000 bitcoin mining rigs (BTC).

The contracts are the latest sign that the prospects of the largest publicly-listed miner by computing capacity, or hashrate after it began bankruptcy procedures in December 2022, may be improving. A group of equity holders noted in March that there had been a significant improvement in the financial situation of the company.

Core Scientific will host 6,914 units for Greenidge Generation Holdings; 10,000 units for Ault Alliance; and 1,021 units for LMFA. The total number of machines that the company hosts will reach 70,000 once they are fully installed. This is on top of 155,000 machines the firm used to mine for its own use as of end-March. The firm stated that the contracts were a mixture of variable pricing and profits-sharing agreements.

Core Scientific shut down 37,000 rigs belonging to Celsius Network’s mining arm after the Chapter 11 filing. Core Scientific closed down 37,000 mining rigs owned by Celsius Network’s Mining arm. The two companies are also in bankruptcy proceedings.

TradingView data show that Core Scientific’s over-the counter equity has increased by 887% from the beginning of the year. The shares have now reached 40 cents.

The miner currently has 175 Megawatts (MW), of hosting capacity, in its Denton, Texas facility. It is also developing 915 MW more in west Texas and Oklahoma.

Read more about Core Scientific Bankruptcy Judge Approves transfer of over $20M in equipment to its exclusive energy negotiator

Sheldon Reback is the editor.