Core Scientific Q3 net loss $455M on $408.5M warrant revaluation; HPC backlog $8.7B

Core Scientific, Inc./tx

2024-Q3 EPS reported -$3.71 revenue$415,747,000

Net loss of $455.3M driven by $408.5M non-cash mark-to-market on warrants and CVRs due to stock price increase.
Revenue fell 15.5% YoY to $95.4M; operating loss widened to $41.2M from $12.0M; adjusted EBITDA $10.1M.
Self-mined 1,115 bitcoin; total hash rate 23.4 EH/s; fleet energy efficiency improved to 24.5 J/TH.
HPC contracts now ~500 MW with $8.7B potential revenue; reallocated 100 MW from mining to HPC, total HPC capacity 800 MW.
Completed $460M convertible note at 3%, used $211M to repay senior debt (12.5%). Q3 cash $253M.

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