Core Scientific Q2 2024 net loss $804.9M on $796M warrant mark-to-market; revenue up 11% to $141.1M

Core Scientific, Inc./tx

2024-Q2 EPS reported -$2.87 revenue$320,393,000

Net loss of $804.9M driven by $796M non-cash warrant mark-to-market; net loss in Q2 2023 was $9.3M.
Revenue $141.1M (+11% YoY); operating income $6.6M vs $9.5M YoY; adjusted EBITDA $46.0M vs $45.0M.
Self-mined 1,680 bitcoin; total hash rate 24.6 EH/s; cash cost to mine ~$29,900/bitcoin.
HPC hosting contracts for 382 MW signed, potential revenue ~$6.7B over 12 years; HPC operations commenced.
Converted $260M in convertible notes to equity; cash $96.1M at quarter end; balance sheet strengthened.

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