Bitcoin mining company Core Scientific will invest $400 million to expand its data center in Alabama

ChainCatcher news, according to The Miner Mag, Bitcoin mining company Core Scientific has expanded its high-performance computing (HPC) hosting business to Auburn, Alabama, by leasing AUBix's existing facilities. The company plans to make an initial capital investment of approximately $135 million in this 40,000 square foot facility, with total investments expected to exceed $400 million.

Auburn Mayor Ron Anders stated that Core Scientific's $400 million investment is expected to bring in $1.5 million in annual tax revenue for the local area. The lease is for a term of 10 years, with the company having the option to extend it in increments of 5 years for up to 15 years.

It is worth noting that Core Scientific resumed its full "HODL" strategy in January of this year, retaining all monthly Bitcoin production, increasing its Bitcoin holdings to over 500 coins.