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Core Scientific, Inc. Appoints Adam Sullivan as CEO to Lead the Company’s Next Phase of Growth
Core Scientific, Inc. (OTC: CORZQ) (“Core Scientific” or “the Company”), a leader in high-performance blockchain computing data centers and software solutions, today announced Adam Sullivan has been appointed Chief Executive Officer. Adam assumes the CEO position after serving as President of Core Scientific. Mike Levitt will continue as the Chairman of the Board of Directors.
Since joining the company, Adam has redesigned Core’s organizational structure, enhanced the Company’s restructuring efforts and improved communication and collaboration across functions. Adam’s expertise and strategic vision for the future of Core Scientific has resulted in increased engagement across the team.
“Adam has been instrumental to Core Scientific in his role as President. He has demonstrated the ability to align, empower and energize Core Scientific’s outstanding team,” said Chairman Mike Levitt. “Our next phase of growth as a company will only be enhanced by his leadership.”
“I am honored and grateful to Chairman Mike Levitt, the Board of Directors and our outstanding team for their trust in me to serve as Chief Executive Officer of this organization,” said Adam Sullivan. “Core Scientific is extremely well positioned to emerge from the restructuring process as a more efficient, more focused and stronger company with a clear roadmap to expand our capacity cost-effectively as a North American leader in bitcoin mining.”
Based on updated reporting information since the Company’s July 5 press release, as of June 30, 2023, Core Scientific operated approximately 211,000 bitcoin miners for both colocation and self-mining, representing a total potential hash rate of 22.2 exahashes per second at its data center facilities in Georgia, Kentucky, North Carolina, North Dakota and Texas. Core Scientific’s self-mining operations produced 1,030 bitcoin in June, and 7,768 bitcoin in the first half of the year, more than any other listed bitcoin miner in North America.
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