Core Scientific Inctx
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
View on SEC.govAbout this filing
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.
Jun 30, 2024 · Filed Aug 7, 2024
CORZ$13.13+3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations (Unaudited)
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue: | ||||
| Digital asset self-mining revenue | $110,743 | $97,082 | $260,702 | $195,108 |
| Digital asset hosted mining revenue from customers | 24,840 | 26,316 | 54,172 | 45,225 |
| Digital asset hosted mining revenue from related parties | — | 3,514 | — | 7,234 |
| HPC hosting revenue | 5,519 | — | 5,519 | — |
| Total revenue | 141,102 | 126,912 | 320,393 | 247,567 |
| Cost of revenue: | ||||
| Cost of digital asset self-mining | 80,001 | 66,846 | 161,565 | 139,522 |
| Cost of digital asset hosted mining services | 17,393 | 23,107 | 37,474 | 39,305 |
| Cost of HPC hosting services | 4,891 | — | 4,891 | — |
| Total cost of revenue | 102,285 | 89,953 | 203,930 | 178,827 |
| Gross profit | 38,817 | 36,959 | 116,463 | 68,740 |
| Change in fair value of digital assets | (584) | — | (41) | — |
| Gain from sale of digital assets | — | 931 | — | 1,995 |
| Impairment of digital assets | — | (1,127) | — | (2,183) |
| Change in fair value of energy derivatives | (539) | — | (2,757) | — |
| Gain (loss) on disposal of property, plant and equipment | 268 | (174) | (3,552) | (174) |
| Operating expenses: | ||||
| Research and development | 2,174 | 1,640 | 3,973 | 3,055 |
| Sales and marketing | 2,966 | 1,084 | 3,948 | 2,092 |
| General and administrative | 26,243 | 24,396 | 40,386 | 46,160 |
| Total operating expenses | 31,383 | 27,120 | 48,307 | 51,307 |
| Operating income | 6,579 | 9,469 | 61,806 | 17,071 |
| Non-operating (income) expenses, net: | ||||
| Loss (gain) on debt extinguishment | 120 | — | 170 | (20,761) |
| Interest expense (income), net | 14,775 | (36) | 28,862 | 121 |
| Reorganization items, net | — | 18,455 | (111,439) | 50,014 |
| Change in fair value of warrant and contingent value rights | 796,035 | — | 735,921 | — |
| Other non-operating expense (income), net | 401 | 181 | 2,147 | (2,888) |
| Total non-operating expenses, net | 811,331 | 18,600 | 655,661 | 26,486 |
| Loss before income taxes | (804,752) | (9,131) | (593,855) | (9,415) |
| Income tax expense | 144 | 129 | 350 | 233 |
| Net loss | $(804,896) | $(9,260) | $(594,205) | $(9,648) |
| Net loss per share (Note 12): | ||||
| Basic | $(4.51) | $(0.02) | $(2.87) | $(0.03) |
| Diluted | $(4.51) | $(0.02) | $(2.87) | $(0.03) |
| Weighted average shares outstanding: | ||||
| Basic | 178,505 | 375,779 | 207,092 | 375,875 |
| Diluted | 178,505 | 375,779 | 207,092 | 375,875 |
Certain prior year amounts have been reclassified for consistency with the current year presentation.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.