Core Scientific and Riot Platforms power and hash rate comparison

Core Scientific uses 300 megawatts of gross power capacity at its Pecos, Texas campus for bitcoin mining. The company secured more than 200 acres of land to support this expansion. This capacity supports a strategy to scale the campus to 1.5 gigawatts of gross power, or 1.0 gigawatt of leasable power. Riot’s facility in Navarro County, Texas, involves 265 acres of land in the ERCOT region. In September 2024, Riot completed the third 100 megawatt building at its Corsicana facility, which brought the power capacity at the site to 300 megawatts. The Corsicana facility has a 400 megawatt substation. Riot also acquired 355 acres in May 2025 and 238 acres in July 2025 for the Corsicana campus, bringing the total size to 858 acres. I find the scale of the Riot land acquisition to be much more aggressive than the Core Scientific land grab.

Hash Rate and Fleet Volatility

Riot achieved a total deployed hash rate capacity of 28.2 EH/s in September 2024. The Corsicana facility provided 11.9 EH/s to that total, while the Rockdale facility provided 15.0 EH/s. The Kentucky facility provided 1.3 EH/s. The average operating hash rate at Corsicana was 8.6 EH/s during that month. Core Scientific reported a total energized hash rate of 25.4 EH/s in August 2024. Its self-mining fleet used 175,000 miners to reach 20.5 EH/s, while its hosting services used 39,000 miners to reach 4.9 EH/s. In the second quarter of 2026, Core Scientific paid $41.9 million to cancel 15 EH/s of next-generation Proto hardware, which are the most efficient mining machines ever produced for the Bitcoin network. You should track these massive hardware cancellations if you want to understand the scale of the fleet volatility. The total deployed hash rate for Riot grew 20% from August to September 2024. The Rockdale facility’s deployed hash rate was 15.0 EH/s in September 2024. What happens when these massive hardware cancellations become the industry standard?

Production Economics and Market Trends

Riot produced 412 bitcoin in September 2024, which was a 28% increase over its August production of 322 bitcoin. This production growth resulted in an average of 13.7 bitcoin produced per day. This increase occurred despite periodic curtailment during the final month of the 2024 Four Coincident Peak program. Core Scientific earned 358 bitcoin in August 2024 from its owned fleet of miners. Its hosting customers earned an estimated 90 bitcoin during that month. The average self-mined bitcoin earned per day for Core Scientific was 11.6 in August 2024. This was a decline from the 13.3 daily average in July 2024. Core Scientific reported a self-mining gross margin of -56% in the second quarter of 2026. I find the $41.9 million expenditure to cancel next-generation hardware at Core Scientific to be a significant red flag. Bitcoin prices reached $58,400 in the second quarter of 2026. This price level was less than half of the all-time high seen in October 2025. The monthly average hash price set an all-time low of $27.7 per PH/s/day in June 2026.

Operational Comparison

I find the divergence in production trends between these two miners to be the most important indicator of their individual operational health.

Core Scientific operated 214,000 bitcoin miners in August 2024. The self-mining fleet used 175,000 miners. Riot’s total deployed hash rate was 28.2 EH/s by the end of September 2024.