RE: Great RNS14 Mar 2022 10:06
Exactly what Jayblu48 said.
Chuz, I think you're imagining that they're swapping the same number of machines "new for old", but I don't think they are.
As Argobull has been saying, they're swopping hash for hash, which likely means that we are getting less new machines than Core Scientific are keeping. The hash swop is the same and due to the massive savings in unplugging, shipping, plugging in again, and huge loss in BTC mined during that downtime, they're happy to do it on a swap basis.....ie. no cash either way.
Win - Win.