Core Scientific Inctx
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||||
|---|---|---|---|---|---|
| 2024 · 2023 · 2022 | |||||
| Cash flows from Operating Activities: | |||||
| Net loss | $(1,315,005) | $(246,487) | $(2,146,318) | ||
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||||
| Depreciation and amortization | 113,205 | 96,003 | 225,259 | ||
| Losses on disposal of property, plant and equipment | 4,210 | 1,956 | 28,025 | ||
| Amortization of operating lease right-of-use assets | 6,916 | 442 | 834 | ||
| Stock-based compensation | 51,924 | 58,892 | 182,894 | ||
| Digital asset self-mining and shared hosting revenue | (425,253) | (407,082) | (397,796) | ||
| Proceeds from sale of digital assets generated by self-mining and shared hosting revenues1 | 402,461 | 404,686 | — | 444,353 | |
| Change in fair value of digital assets | 1,052 | — | — | ||
| Impairment of digital assets | — | 4,406 | 231,315 | ||
| Gain from sale of digital assets | — | (3,886) | (44,298) | ||
| Change in fair value of energy derivatives | (2,262) | — | — | ||
| Change in fair value of warrant liabilities | 1,451,210 | — | (37,937) | ||
| Change in fair value of contingent value rights | (82,053) | — | — | ||
| Change in fair value of convertible notes | — | — | 186,853 | ||
| Change in fair value of other liabilities | — | — | 9,498 | ||
| Loss (gain) on debt extinguishment | 487 | (20,065) | 287 | ||
| Loss on issuance of notes payable through settlements | — | 8,515 | — | ||
| Amortization of debt discount | 3,756 | 752 | 7,135 | ||
| Non-cash reorganization items | (143,791) | — | (199,707) | ||
| Non-cash PIK interest expense | 3,676 | — | — | ||
| Impairment of goodwill, other intangibles and property, plant and equipment | — | — | 1,649,938 | ||
| Provision for doubtful accounts | — | — | 9,004 | ||
| Equity line of credit expenses | — | — | 1,668 | ||
| Gain on sale of intangible assets | — | — | (5,904) | ||
| Deferred income taxes | — | — | (18,521) | ||
| Changes in operating assets and liabilities: | |||||
| Accounts receivable, net | 659 | (767) | (7,856) | ||
| Accounts receivable from related parties | — | 23 | 277 | ||
| Deposits for equipment for sales to customers | — | (2,403) | 50,174 | ||
| Prepaid expenses and other current assets | (20,393) | (18,351) | 51,818 | ||
| Accounts payable | (12,272) | 118,911 | 26,713 | ||
| Accrued expenses and other | 1,880 | 130,382 | 17,229 | ||
| Deferred revenue from HPC hosting services | 17,785 | — | — | ||
| Deferred revenue from hosted mining services | (9,481) | (47,807) | 16,483 | ||
| Deferred revenue from related parties | — | — | (72,449) | ||
| Other noncurrent assets and liabilities, net | (5,815) | (13,006) | (3,784) | ||
| Net cash provided by operating activities | 42,896 | 65,114 | 205,187 | ||
| Cash flows from Investing Activities: | |||||
| Purchases of property, plant and equipment | (94,961) | (16,161) | (383,980) | ||
| Proceeds from sale of Cedarvale | — | 13,998 | — | ||
| Deposits for self-mining equipment | — | — | (217,677) | ||
| Proceeds from the sale of coupons | — | — | 10,850 | ||
| Investments in internally developed software | (231) | (833) | — | ||
| Other | — | — | 29 | ||
| Net cash used in investing activities | (95,192) | (2,996) | (590,778) | ||
| Cash flows from Financing Activities: | |||||
| Principal repayments of finance leases | (6,038) | (3,658) | (30,319) | ||
1 Proceeds from digital assets received as noncash revenue consideration liquidated nearly immediately after receipt as a routine operating activity.
| Principal payments on debt | (304,819) | (40,991) | (113,290) |
|---|---|---|---|
| Proceeds from the issuance of 3.00% convertible senior notes, net | 447,609 | — | — |
| Issuance costs for 3.00% convertible senior notes | (2,529) | — | |
| Proceeds from the issuance of 0.00% convertible senior notes, net | 610,156 | — | — |
| Issuance costs for 0.00% convertible senior notes | (1,313) | — | — |
| Proceeds from issuance of new common stock | 55,000 | — | — |
| Proceeds from draw from exit facility | 20,000 | — | — |
| Restricted stock tax holding obligations | (3,393) | — | — |
| Proceeds from exercise of warrants | 4,885 | — | |
| Proceeds from exercise of stock options | 9 | — | 25,049 |
| Repurchase of common shares to pay employee withholding taxes | — | — | (31,646) |
| Proceeds from the XPDI merger, net of transaction costs | — | — | 195,010 |
| Proceeds from debt, net of issuance costs | — | — | 261,349 |
| Net cash provided by (used in) financing activities | 819,567 | (44,649) | 306,153 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 767,271 | 17,469 | (79,438) |
| Cash, cash equivalents and restricted cash—beginning of period | 69,709 | 52,240 | 131,678 |
| Cash, cash equivalents and restricted cash—end of period | $836,980 | $69,709 | $52,240 |
| Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above: | |||
| Cash and cash equivalents | $836,197 | $50,409 | $15,884 |
| Restricted cash | 783 | 19,300 | 36,356 |
| Total cash, cash equivalents and restricted cash | $836,980 | $69,709 | $52,240 |
| Supplemental disclosure of other cash flow information: | |||
| Cash paid for interest | $28,798 | $4,708 | $86,010 |
| Income tax (refunds) payments | $(159) | $(370) | $5,756 |
| Cash paid for reorganization items | $53,835 | $86,539 | $— |
| Supplemental disclosure of noncash investing and financing activities: | |||
| Change in accrued capital expenditures | $13,411 | $2,731 | $69,286 |
| 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 | $6,867 | $— | $— |
| Increase in right-of-use assets due to lease commencement | $111,736 | $— | $— |
| Extinguishment of convertible notes upon emergence | $(559,902) | $— | $— |
| Extinguishment of accounts payable, accrued expenses, finance lease liability, and notes payable upon emergence | $(473,244) | $— | $— |
| 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 | $38,547 | $— |
| Cumulative effect of adoption of ASU 2023-08, Accounting for and Disclosure of Crypto Assets | $24 | $— | $— |
| Payment-in-kind interest on Secured and Other Convertible Notes | $— | $— | $31,382 |
| Issuance of new common stock for PIK interest on New Secured Convertible Notes | $3,677 | $— | $— |
| Issuance of new common stock for New Secured Convertible Notes conversion | $261,772 | $— | $— |
| Increase in lease liability and right-of-use assets due to lease modification | $695 | $— | $— |
| Noncash exercise of warrants | $39,828 | $— | $3,001 |
| Property, plant and equipment disposed of through settlements | $— | $6,301 | $— |
| Purchase of insurance policies financed by short-term note payable | $— | $5,011 | $— |
|---|---|---|---|
| Decrease in equipment related to debt extinguishment | $— | $17,849 | $— |
| Decrease in notes payable in exchange for equipment | $— | $(38,610) | $— |
| Property, plant, and equipment obtained in exchange transaction | $— | $— | $62,338 |
Certain prior year amounts have been reclassified for consistency with the current year presentation.
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