Core Scientific, Inc. - CORZ STOCK NEWS

Core Scientific, Inc. (NASDAQ: CORZ) reported significant financial results for Q1 2022, with total revenue surging 255% to $192.5 million and gross profit increasing 382% to $70 million. Despite this growth, the company faced a net loss of $466.2 million due to substantial noncash adjustments on convertible notes and digital asset impairments. Self-mining production soared 1,454%, resulting in 3,202 bitcoins mined. The outlook for 2022 anticipates growth to a hashrate of 30-32 EH/s, supported by a solid capital structure.

Core Scientific, Inc. (NASDAQ: CORZ) reported production updates for April 2022, announcing the self-mining of 1,121 bitcoins while holding a total of 9,618 bitcoins as of April 30, 2022. The company maintained a daily average production of 37.4 bitcoins, an increase from March's 36.9 bitcoins. Core Scientific's operations included over 85,000 bitcoin miners producing 8.9 EH/s and supporting customers with 8.1 EH/s. The company continues to expand its infrastructure across multiple states, emphasizing operational excellence.

Core Scientific, Inc. (NASDAQ: CORZ) announced that it will release its first fiscal quarter financial results on May 12, 2022, after market close. The company will host a conference call at 3:30 PM CT to discuss these results, featuring CEO Mike Levitt, CFO Denise Sterling, and SVP of Investor Relations Steven A. Gitlin. Investors can access the call via phone or through a live audio webcast on Core Scientific's Investor Relations website.

Core Scientific (NASDAQ: CORZ) has launched daily reporting of its self-mined Bitcoin production on its website, corescientific.com, updated at 12:00pm EST. This move is aimed at enhancing transparency for shareholders and stakeholders. CEO Mike Levitt highlighted the importance of daily production metrics, while Co-Founder Darin Feinstein noted that the company is the first publicly traded Bitcoin miner to offer such real-time data. Core Scientific operates extensive blockchain infrastructure across North America, committed to net carbon neutrality.

Core Scientific (NASDAQ: CORZ) reported a significant milestone in its bitcoin mining operations for March 2022, self-mining 1,143 bitcoins, the highest monthly total for any U.S.-based publicly traded company. This brings their total to over 3,000 bitcoins mined in 2022. The company currently holds 8,497 bitcoins as of March 31, 2022. Additionally, Denise Sterling has been appointed as Chief Financial Officer, succeeding Michael Trzupek. Core Scientific operates a fleet of over 80,000 miners and achieved full capacity at its Grand Forks, ND data center.

Core Scientific, Inc. (NASDAQ: CORZ) reported remarkable fiscal year 2021 results with total revenue surging 803% to $544.5 million and net income rising to $47.3 million. Adjusted EBITDA soared 3,849% to $238.9 million. The company self-mined 5,769 BTC, up 350% year-over-year, and held 5,296 BTC at year-end. Operating income jumped to $131.5 million, a significant recovery from a loss in 2020. For 2022, Core anticipates achieving a total hashrate of 40-42 EH/s and bolstering its operational capacity.

Core Scientific, Inc. (NASDAQ: CORZ) will release its financial results for the fiscal year ended December 31, 2021, on March 29, 2022, after market close. A conference call will follow at 3:30 PM CT, hosted by CEO Mike Levitt and CFO Michael Trzupek. Investors can access the results via the Investor Relations section on Core Scientific's website. The company, a major player in carbon-neutral blockchain infrastructure, has been operating since 2017 and holds over 70 patents related to digital asset mining.

Core Scientific, Inc. (NASDAQ: CORZ), a leader in net carbon-neutral blockchain infrastructure, announced its participation in several investor conferences throughout March. These events include the 34th Annual Roth Conference on March 14, Cannacord Genuity Blockchain Infrastructure and Mining Conference on March 17, and others culminating in the Barclays Crypto and Blockchain Summit on March 30. Investors can access live webcasts and replays on the company's Investor Relations website. Core Scientific operates multiple data centers across North America and has a significant portfolio of patents for digital asset mining.

Core Scientific (NASDAQ: CORZ) announced preliminary 2021 financial results with revenue projected between $515 million and $545 million, net income of $50 million to $60 million, and adjusted EBITDA of $225 million to $235 million. The company produced 5,769 bitcoins in 2021 and increased its hashrate to 15.9 EH/s by February 2022. For 2022, guidance suggests a total hashrate of 40 to 42 EH/s and operating capacity of 1.2 to 1.3 GW. The company will release Q4 results on March 29, 2022.