According to PANews, Core Scientific has released its financial results for the fourth quarter and the entire year of 2024. The Bitcoin mining company reported a net loss of $265.5 million for the fourth quarter. This loss is primarily attributed to a $224.7 million non-cash mark-to-market adjustment related to 'warrants and other contingent value rights liabilities.' The company explained that due to a significant increase in its stock price over the year, it was necessary to update the accounting treatment of its financial obligations, leading to the adjustment. Core Scientific emphasized that this loss does not reflect an actual cash outflow.
Earlier today, it was reported that Core Scientific entered into a 12-year agreement with CoreWeave to expand its AI data center, resulting in an 11% increase in its stock price.
