Core Scientific Inctx
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
CORZ$13.13+3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations (Unaudited)
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue: | ||||
| Digital asset self-mining revenue | $68,138 | $83,056 | $328,840 | $278,164 |
| Digital asset hosted mining revenue from customers | 16,878 | 27,020 | 71,050 | 72,245 |
| Digital asset hosted mining revenue from related parties | — | 2,828 | — | 10,062 |
| HPC hosting revenue | 10,338 | — | 15,857 | — |
| Total revenue | 95,354 | 112,904 | 415,747 | 360,471 |
| Cost of revenue: | ||||
| Cost of digital asset self-mining | 74,555 | 72,603 | 236,120 | 212,125 |
| Cost of digital asset hosted mining services | 11,914 | 24,882 | 49,388 | 64,187 |
| Cost of HPC hosting services | 9,041 | — | 13,932 | — |
| Total cost of revenue | 95,510 | 97,485 | 299,440 | 276,312 |
| Gross (loss) profit | (156) | 15,419 | 116,307 | 84,159 |
| Change in fair value of digital assets | (206) | — | (247) | — |
| Gain from sale of digital assets | — | 363 | — | 2,358 |
| Impairment of digital assets | — | (681) | — | (2,864) |
| Change in fair value of energy derivatives | — | — | (2,757) | — |
| Loss on disposal of property, plant and equipment | (509) | (340) | (4,061) | (514) |
| Operating expenses: | ||||
| Research and development | 2,841 | 2,253 | 6,814 | 5,308 |
| Sales and marketing | 3,151 | 1,041 | 7,099 | 3,133 |
| General and administrative | 34,356 | 23,511 | 74,742 | 69,671 |
| Total operating expenses | 40,348 | 26,805 | 88,655 | 78,112 |
| Operating (loss) income | (41,219) | (12,044) | 20,587 | 5,027 |
| Non-operating (income) expenses, net: | ||||
| Loss (gain) on debt extinguishment | 317 | (374) | 487 | (21,135) |
| Interest expense, net | 7,072 | 2,196 | 35,934 | 2,317 |
| Reorganization items, net | — | 28,256 | (111,439) | 78,270 |
| Change in fair value of warrant and contingent value rights | 408,520 | — | 1,144,441 | — |
| Other non-operating (income) expense, net | (2,003) | (1,090) | 144 | (3,978) |
| Total non-operating expenses, net | 413,906 | 28,988 | 1,069,567 | 55,474 |
| Loss before income taxes | (455,125) | (41,032) | (1,048,980) | (50,447) |
| Income tax expense | 134 | 114 | 484 | 347 |
| Net loss | $(455,259) | $(41,146) | $(1,049,464) | $(50,794) |
| Net loss per share (Note 12): | ||||
| Basic | $(1.17) | $(0.11) | $(3.71) | $(0.13) |
| Diluted | $(1.17) | $(0.11) | $(3.71) | $(0.13) |
| Weighted average shares outstanding: | ||||
| Basic | 292,486 | 382,483 | 253,058 | 378,107 |
| Diluted | 292,486 | 382,483 | 253,058 | 378,107 |
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