secwatch.observer — SEC 8-K summary
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Issuer:     Core Scientific, Inc./tx (CORZ)
CIK:        0001839341
Form:       8-K
Filed at:   2025-02-26T23:59:59+00:00
Accession:  0001628280-25-008130
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Core Scientific Q4 net loss $265.5M; revenue down 33% YoY to $94.9M
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- Net loss of $265.5M driven by $224.7M non-cash mark-to-market adjustment on warrant liabilities due to stock price increase.
- Revenue fell to $94.9M from $141.9M YoY; self-mining revenue down 68% in bitcoin mined due to halving and shift to HPC.
- Adjusted EBITDA dropped to $13.3M from $56.7M YoY; operating loss of $39.8M vs operating income of $3.9M.
- Earned 974 self-mined bitcoin at avg cash cost $51,035; total hash rate 20.1 EH/s (19.1 EH/s self-mining).
- Secured $625M 0% convertible note offering; ended Q4 with $836.2M cash and cash equivalents.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1839341/000162828025008130/0001628280-25-008130-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1839341/000162828025008130/core-20250226.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-008130

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer