🟪 Bitcoin miner Core Scientific reports $805 million net loss in Q2 🟪
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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 “non-cash mark-to-market adjustments” 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.
🔼 Data Credit - The Block, Core Scientific Blog.
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