secwatch.observer — SEC 8-K summary
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Issuer:     Core Scientific, Inc./tx (CORZ)
CIK:        0001839341
Form:       8-K
Filed at:   2024-11-06T23:59:59+00:00
Accession:  0001628280-24-045714
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1839341/000162828024045714/0001628280-24-045714-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1839341/000162828024045714/core-20241106.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-045714

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