Core Scientific Inctx
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
CORZ$12.72+8.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
(in thousands, except per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Revenue: | |||
| Digital asset self-mining revenue | $408,740 | $390,333 | $397,796 |
| Digital asset hosted mining revenue from customers | 77,554 | 102,005 | 130,234 |
| Digital asset hosted mining revenue from related parties | — | 10,062 | 29,454 |
| Equipment sales to customers | — | — | 11,391 |
| Equipment sales to related parties | — | — | 71,438 |
| HPC hosting revenue | 24,378 | — | — |
| Total revenue | 510,672 | 502,400 | 640,313 |
| Cost of revenue: | |||
| Cost of digital asset self-mining | 314,335 | 291,696 | 395,082 |
| Cost of digital asset hosted mining services | 53,558 | 87,245 | 169,717 |
| Cost of equipment sales | — | — | 67,114 |
| Cost of HPC hosting services | 21,709 | — | — |
| Total cost of revenue | 389,602 | 378,941 | 631,913 |
| Gross profit | 121,070 | 123,459 | 8,400 |
| Change in fair value of digital assets | (1,052) | — | — |
| Gain from sale of digital assets | — | 3,893 | 44,298 |
| Impairment of digital assets | — | (4,406) | (231,315) |
| Change in fair value of energy derivatives | (2,757) | (3,918) | — |
| Impairment of goodwill and other intangibles | — | — | (1,059,265) |
| Impairment of property, plant and equipment | — | — | (590,673) |
| Losses on exchange or disposal of property, plant and equipment | (4,210) | (1,956) | (28,025) |
| Operating expenses: | |||
| Research and development | 11,830 | 7,184 | 26,962 |
| Sales and marketing | 9,969 | 7,019 | 12,731 |
| General and administrative | 110,448 | 93,908 | 213,280 |
| Total operating expenses | 132,247 | 108,111 | 252,973 |
| Operating (loss) income | (19,196) | 8,961 | (2,109,553) |
| Non-operating expenses (income), net: | |||
| Loss (gain) on debt extinguishment | 487 | (20,065) | 287 |
| Interest expense, net | 37,070 | 86,238 | 96,826 |
| Change in fair value of convertible notes | — | — | 186,853 |
| Change in fair value of warrants and contingent value rights | 1,369,157 | — | (37,937) |
| Reorganization items, net | (111,439) | 191,122 | (197,405) |
| Other non-operating (income) expense, net | (325) | (2,530) | 5,232 |
| Total non-operating expenses, net | 1,294,950 | 254,765 | 53,856 |
| Loss before income taxes | (1,314,146) | (245,804) | (2,163,409) |
| Income tax expense (benefit) | 859 | 683 | (17,091) |
| Net loss | $(1,315,005) | $(246,487) | $(2,146,318) |
| Net loss per share, basic and diluted | $(4.39) | $(0.65) | $(6.30) |
| Weighted average shares outstanding, basic and diluted | 255,832 | 379,863 | 340,647 |
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