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 Cash Flows (Unaudited)
Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from Operating Activities: | ||
| Net loss | $(1,049,464) | $(50,794) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation and amortization | 87,164 | 64,800 |
| Amortization of operating lease right-of-use assets | 3,802 | 703 |
| Stock-based compensation | 27,957 | 41,414 |
| Digital asset self-mining revenue | (328,840) | (278,164) |
| Loss (gain) on debt extinguishment | 487 | (21,135) |
| Change in fair value of energy derivatives | (2,262) | — |
| Change in fair value of warrant liabilities | 1,223,775 | — |
| Change in fair value of contingent value rights | (79,334) | — |
| Change in fair value of digital assets | 247 | — |
| Amortization of debt discount | 2,362 | — |
| Losses on disposal of property, plant and equipment | 4,061 | 514 |
| Impairment of digital assets | — | 2,864 |
| Gain on sale of digital assets | — | (2,358) |
| Non-cash reorganization items | (143,791) | — |
| Non-cash PIK interest expense | 3,946 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (4,562) | (875) |
| Accounts receivable from related parties | — | 23 |
| Digital assets | 330,900 | 277,823 |
| Deposits for equipment | — | (600) |
| Prepaid expenses and other current assets | 2,687 | (10,650) |
| Accounts payable | (11,640) | 32,771 |
| Accrued expenses and other | (44,873) | 13,001 |
| Deferred revenue | 115 | (15,015) |
| Other noncurrent assets and liabilities, net | 6,354 | (10,911) |
| Net cash provided by operating activities | 29,091 | 43,411 |
| Cash flows from Investing Activities: | ||
| Purchases of property, plant and equipment | (66,203) | (4,516) |
| Investments in internally developed software | — | (840) |
| Other | (191) | — |
| Net cash used in investing activities | (66,394) | (5,356) |
| Cash flows from Financing Activities: | ||
| Proceeds from issuance of new common stock | 55,000 | — |
| Proceeds for the issuance of 3% senior convertible notes, net | 447,609 | — |
| Issuance costs for 3% senior convertible notes | (2,529) | — |
| Proceeds from draw from exit facility | 20,000 | — |
| Principal repayments of finance leases | (5,328) | (3,411) |
| Principal payments on debt | (291,888) | (22,941) |
| Restricted stock tax holding obligations | (3,390) | — |
| Proceeds from exercise of stock options | 9 | — |
| Proceeds from exercise of warrants | 1,913 | — |
| Net cash provided by (used in) financing activities | 221,396 | (26,352) |
| Net increase in cash, cash equivalents and restricted cash | 184,093 | 11,703 |
| Cash, cash equivalents and restricted cash—beginning of period | 69,709 | 52,240 |
| Cash, cash equivalents and restricted cash—end of period | $253,802 | $63,943 |
| Reconciliation of cash, cash equivalents, and restricted cash within the condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows above: | ||
|---|---|---|
| Cash and cash equivalents | $253,019 | $42,146 |
| Restricted cash | 783 | 21,797 |
| Total cash, cash equivalents and restricted cash | $253,802 | $63,943 |
| Supplemental disclosure of other cash flow information: | ||
| Cash paid for interest | $26,175 | $1,508 |
| Income tax refunds | $(1,288) | $(336) |
| Cash paid for reorganization items | $53,835 | $62,590 |
| Supplemental disclosure of noncash investing and financing activities: | ||
| Change in accrued capital expenditures | $9,028 | $(39,660) |
| 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 | 9,268 | — |
| Increase in right-of-use assets 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 | (36) | — |
| Issuance of new common stock in connection with emergence | 296,893 | — |
| 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 | — |
| Issuance of new common stock for New Secured Convertible Notes conversion | 261,772 | — |
| Issuance of new common stock for PIK interest | 3,677 | — |
| Noncash exercise of warrants | 37,924 | — |
| Property, plant and equipment disposed of through settlements | — | 6,301 |
| Purchase of insurance policies financed by short-term note payable | — | 5,011 |
| Issuance of notes payable through settlements | — | 21,035 |
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