Core Scientific, a leader in high-performance blockchain computing data centres 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.”
Adam on the new appointment
“I am honoured 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.
ABOUT ADAM SULLIVAN
Adam Sullivan has more than a decade of experience in financial services, with a focus on investment banking in the digital assets and infrastructure space. His expertise spans strategy development, corporate finance and M&A. Prior to joining Core Scientific as President in 2023, Adam served as a Managing Director and Head of Digital Assets and Infrastructure at XMS Capital Partners.
In his role at XMS, Adam established himself as one of the key facilitators for M&A and capital raises in the crypto mining industry, overseeing more than $5 billion of transactions, including Core Scientific’s business combination with Power & Digital Infrastructure Acquisition Corp. in 2021. He previously served at Indian Wells Capital Management and M&T Bank. Adam received his Bachelor of Arts in Financial Economics from the University of Rochester.
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