Core Scientific Inctx
For the period ended Mar 31, 2024. Filed May 9, 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.
Mar 31, 2024 · Filed May 9, 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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Consolidated Statements of Cash Flows (Unaudited)
Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from Operating Activities: | ||
| Net income (loss) | $210,691 | $(388) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 28,996 | 20,094 |
| Amortization of operating lease right-of-use assets | 770 | 195 |
| Stock-based compensation | (1,060) | 12,273 |
| Digital asset mining revenue | (149,959) | (98,026) |
| Loss (gain) on debt extinguishment | 50 | (20,761) |
| Change in fair value of energy derivatives | (797) | — |
| Change in fair value of warrant liabilities | (18,390) | — |
| Change in fair value of contingent value rights | (41,724) | — |
| Amortization of debt discount | 660 | — |
| Losses on disposal of property, plant and equipment | 3,820 | — |
| Impairment of digital assets | — | 1,056 |
| Gain on sale of digital assets | (543) | (1,064) |
| Non-cash reorganization items | (143,791) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (106) | 61 |
| Accounts receivable from related parties | — | 21 |
| Digital assets | 152,810 | 98,758 |
| Deposits for equipment | — | — |
| Prepaid expenses and other current assets | (5,989) | 1,152 |
| Accounts payable | (9,735) | 16,408 |
| Accrued expenses and other | (10,351) | (906) |
| Deferred revenue | (580) | (8,629) |
| Other noncurrent assets and liabilities, net | 7,402 | (302) |
| Net cash provided by operating activities | 22,174 | 19,942 |
| Cash flows from Investing Activities: | ||
| Purchases of property, plant and equipment | (31,894) | (1,539) |
| Other | (76) | (330) |
| Net cash used in investing activities | (31,970) | (1,869) |
| Cash flows from Financing Activities: | ||
| Proceeds from issuance of common stock | 55,000 | — |
| Proceeds from draw from exit facility | 20,000 | — |
| Principal repayments of finance leases | (3,554) | — |
| Principal payments on debt | (13,702) | (1,021) |
| Restricted stock tax holding obligations | (3,390) | — |
| Proceeds from exercise of stock options | 9 | — |
| Net cash provided by provided by (used in) financing activities | 54,363 | (1,021) |
| Net increase in cash, cash equivalents and restricted cash | 44,567 | 17,052 |
| Cash, cash equivalents and restricted cash—beginning of period | 69,709 | 52,240 |
| Cash, cash equivalents and restricted cash—end of period | $114,276 | $69,292 |
| Supplemental disclosure of other cash flow information: | ||
|---|---|---|
| Cash paid for interest | $2,811 | $317 |
| Income tax refunds | $(1) | $(300) |
| Cash paid for reorganization items | $53,835 | $— |
| Supplemental disclosure of noncash investing and financing activities: | ||
| Change in accrued capital expenditures | $(8,484) | $45,721 |
| Decrease in equipment related to debt extinguishment | — | 17,849 |
| Decrease in notes payable in exchange for equipment | — | (38,610) |
| Reduction in plant, property, and equipment basis related to Bitmain purchase | (26,101) | — |
| Reclass of other current and non-current assets to plant, property, and equipment | 8,890 | — |
| Decrease in right-of-use assets due to lease termination | (6,560) | — |
| Increase in right-of-use assets due to lease commencement | 70,690 | — |
| Increase in lease liability due to lease commencement | 70,690 | — |
| Extinguishment of convertible notes upon emergence | (559,902) | — |
| Extinguishment of accounts payable, accrued expenses, finance lease liability, and notes payable upon emergence | (321,773) | — |
| Cancellation of common stock in connection with emergence | (37) | — |
| Issuance of new common stock in connection with emergence | 296,494 | — |
| Issuance of new common stock for Bitmain obligation | 27,839 | — |
| Issuance of new common stock for the Equity Rights Offering backstop commitment | 5,475 | — |
| Issuance of contingent value rights | 86,325 | — |
| Issuance of warrants | 345,856 | — |
| Issuance of new secured convertible notes | 260,000 | — |
| Issuance of secured notes, net of discount | 149,520 | — |
| Issuance of Exit Credit Agreement including $1.2 million paid in kind upfront fee | 41,200 | — |
| Issuance of miner equipment lender facility loans | 52,947 | — |
| Issuance of notes related to settlement | 9,092 | — |
| Cumulative effect of adoption of ASU 2023-08, Accounting for and Disclosure of Crypto Assets | 24 | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.