Core Scientific announced on Wednesday that it had mined 2,825 Bitcoins in the first quarter of 2024, which is valued at over $175 million at the current price. The company also reported a net profit of $210.7 million, compared to a net loss of approximately $400,000 last year. Core Scientific stated that the latest quarter’s net profit was “income of $143.8 million obtained from the repayment of previous debts.”
The total revenue for Core Scientific in the first quarter was $179.3 million, compared to $120.7 million in the same period in 2023. The company mentioned that the adjusted EBITDA was $88 million.
Core Scientific’s stock price rose nearly 3% to $3.48 per share at the close of the day.
Source: https://cointelegraph.com/news/core-scientific-revenue-surge-1-q24-bankruptcy
