๐ŸŸช Bitcoin miner Core Scientific reports $805 million net loss in Q2 ๐ŸŸช

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Core Scientific reported a net loss of $804.9 million in Q2 of 2024, compared to a net loss of $9.3 million in Q2 of 2023.

> Losses were primarily driven by mandatory, $796 million โ€œnon-cash mark-to-market adjustmentsโ€ to warrants and contingent value rights issued during bankruptcy process.

> Revenue increased to $141.1 million as the firm looks to revamp its fleet of miners and expand into high-performance computing.

๐Ÿ”ผ Data Credit - The Block, Core Scientific Blog.

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