Core Scientific Announces Expansion into Auburn, Alabama with New High-Performance Computing Facility

The company’s data center platform growth continues in support of AI and enterprise customers

Core Scientific Announces Expansion into Auburn, Alabama with New High-Performance Computing Facility

Core Scientific Inc. (Nasdaq: CORZ) (“Core Scientific” or the “Company”), a leader in digital infrastructure for high-performance compute at scale, today announced its expansion into Auburn, Alabama, with a new high-performance computing facility at 1571 W Samford Ave.

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Core Scientific Data Center in Auburn, Alabama (Photo: Business Wire)

“Auburn represents an exciting new chapter for Core Scientific as we establish our presence in Alabama,” said Adam Sullivan, Core Scientific CEO. “This facility is expected to play a key role in our high-performance computing strategy, and we are grateful for the strong partnership and support from local and state leaders, including Auburn city officials. We look forward to contributing to Auburn’s growing technology sector and strengthening the regional economy.”

The Core Scientific Auburn data center, housed within the existing AUBix facility, will launch with a capacity of 16 megawatts and has potential for further expansion. Core Scientific is planning to make an initial investment of approximately $135 million in the facility, with total investment in the project expected to exceed $400 million, including substantial capital expenditures from future partners.

In the process of becoming the operator of the Samford Avenue facility, Core Scientific has leased the building and is planning to execute an option to purchase. It has retained the facility’s 11 full-time employees as part of its commitment to the local workforce. The company plans to increase its team to a minimum of 20 full-time employees.

“Alabama has long been a pro-business state, and Core Scientific’s investment in Auburn is a testament to our ability to attract cutting-edge technology companies,” said Alabama Governor Kay Ivey. “We are excited to support their growth and look forward to the economic benefits this project will bring to our state.”

“Core Scientific’s expansion into Alabama highlights the state’s growing prominence in the technology and digital infrastructure sector,” said Alabama’s Secretary of Commerce, Ellen McNair. “This investment not only strengthens our state’s economy but also positions Alabama as a key player in the future of high-performance computing.”

“We appreciate Core Scientific establishing a new operation here in Auburn as part of its national data center network,” said Auburn Mayor Ron Anders. “The company’s investment is evidence of the success of our recruitment of high-tech industries in collaboration with Auburn University. Our projections show that Core Scientific’s $400 million investment will result in a local tax generation of $1.5 million per year, supporting our schools and public services.”

Core Scientific currently operates nine data centers across six states—Alabama, Georgia, Kentucky, North Carolina, North Dakota, and Texas— with an additional facility under development in Oklahoma.

About Core Scientific, Inc.

Core Scientific, Inc. (“Core Scientific” or the “Company”) is a leader in digital infrastructure for high-performance computing and digital asset mining. We operate dedicated, purpose-built facilities for digital asset mining and are a premier provider of digital infrastructure to our third-party customers. We employ our own large fleet of computers (“miners”) to earn digital assets for our own account and to provide hosting services for large bitcoin mining customers and we are in the process of allocating and converting a significant portion of our nine operational data centers in Alabama (1), Georgia (2), Kentucky (1), North Carolina (1), North Dakota (1) and Texas (3), and our facility in development in Oklahoma to support artificial intelligence-related workloads under a series of contracts that entail the modification of certain of our data centers to deliver hosting services for high-performance computing (“HPC”). www.corescientific.com.

FORWARD LOOKING STATEMENTS AND EXPLANATORY NOTES

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the Company's ability to scale, and grow its business and execute on its growth plans and hosting contracts, source clean and renewable energy, the advantages, and expected growth, and anticipated future revenue of the Company, and the Company's ability to source and retain talent. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "aim," "estimate," "plan," "project," "forecast," "goal," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our ability to earn digital assets profitably and to attract customers for our digital asset and high performance compute hosting capabilities; our ability to perform under our existing colocation agreements, our ability to maintain our competitive position in our existing operating segments, the impact of increases in total network hash rate; our ability to raise additional capital to continue our expansion efforts or other operations; our need for significant electric power and the limited availability of power resources; the potential failure in our critical systems, facilities or services we provide; the physical risks and regulatory changes relating to climate change; our vulnerability to physical security breaches, which could disrupt our operations; a potential slowdown in market and economic conditions, particularly those impacting high performance computing, the blockchain industry and the blockchain hosting market; the identification of material weaknesses in our internal control over financial reporting; price volatility of digital assets and bitcoin in particular; potential changes in the interpretive positions of the SEC or its staff with respect to digital asset mining firms; the increasing likelihood that U.S. federal and state legislatures and regulatory agencies will enact laws and regulations to regulate digital assets and digital asset intermediaries; increasing scrutiny and changing expectations with respect to our ESG policies; the effectiveness of our compliance and risk management methods. Any such forward-looking statements represent management's estimates and beliefs as of the date of this presentation. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. Year over year comparisons are based on the combined results of Core Scientific and its acquired entities.

Although the Company believes that in making such forward-looking statements its expectations are based upon reasonable assumptions, such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. The Company cannot assure you that the assumptions upon which these statements are based will prove to have been correct. Additional important factors that may affect the Company's business, results of operations and financial position are described from time to time in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q and the Company's other filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law.

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