Alleged overstated mining profitability and breakeven costs
Company: Core Scientific
The claim, verbatim
Culper Research alleged that Core Scientific overstated its profitability by claiming a mining breakeven of $2,700 per bitcoin in power costs, when Culper estimated the actual all-in cost to mine was approximately $41,723 per bitcoin.
Source (primary)
Core Scientific, Inc. — Entry #1842: Adversary case 22-03345 (RECAP (purchased via PACER), court_filing)
View cached copy (2026-09-26)Live source ↗
Quote: “estimate[d] Core's true go-forward power costs are $10,845 per BTC . . . and the Company's all-in cost to mine (including miner costs and G&A) is $41,723 per bitcoin.”
How we checked this
Checked on September 28, 2026. The cited source supports every part of this claim.
Paragraph 27 of the complaint sets out Core's claimed $2,700 breakeven and Culper's $41,723 all-in cost estimate.
Confirmed in the source:
- Culper Research alleged Core Scientific overstated its profitability
- Core Scientific claimed a mining breakeven of $2,700 in power costs per bitcoin
- Culper estimated Core's all-in cost to mine was $41,723 per bitcoin
What we did: Read our cached copy of RECAP (purchased via PACER) (https://storage.courtlistener.com/recap/gov.uscourts.txsb.460090/gov.uscourts.txsb.460090.1842.0.pdf) in full (60,424 characters, retrieved September 26, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Core Scientific, Inc. — Entry #1842: Adversary case 22-03345
Quote: “estimate[d] Core's true go-forward power costs are $10,845 per BTC . . . and the Company's all-in cost to mine (including miner costs and G&A) is $41,723 per bitcoin.”