- Revenue: $94.9M, -33% YoY from $141.9M
- Net Loss: $265.5M vs $195.7M loss YoY
- Adjusted EBITDA: $13.3M, -77% YoY from $56.7M
CEO Adam Sullivan: "In the fourth quarter, Core Scientific continued to build on what was a transformational year for our business. We successfully executed our growth strategy across multiple fronts, achieving significant milestones in both our HPC and Bitcoin mining operations. Our infrastructure expansion efforts were particularly strong - through strategic site acquisitions and existing site expansions, we increased our total portfolio capacity to 1,300 MW of powered infrastructure by year-end."
🌱Revenue & Growth
- Digital asset self-mining revenue: $79.9M vs $112.2M YoY
- Digital asset hosted mining revenue: $6.5M vs $29.8M YoY
- HPC hosting revenue: $8.5M (new segment)
- Mined 974 bitcoin in Q4 2024
- Total hash rate: 20.1 EH/s (19.1 EH/s self-mining, 1.0 EH/s hosting)
💰Profits & Financials
- Cash and equivalents: $836.2M vs $50.4M YoY
- Operating loss: $39.8M vs $3.9M operating income YoY
- Gross margin: 5% vs 28% YoY
- Cost to mine one bitcoin: $51,035
- Secured $625M convertible note offering with 0% interest
📌Business Highlights
- Expanded infrastructure to 1,300 MW powered capacity
- Operating ten facilities across seven states
- Converting significant portion of facilities to support AI workloads
🔮Future Outlook
- Executing strategy for accelerated growth in 2025
- Focus on expanding HPC infrastructure for AI computing
- Leveraging expanded infrastructure capacity and operational expertise
