Core Scientific reports $804.9 million net loss in second quarter

Core Scientific, a Bitcoin mining enterprise, has released its financial results for the second quarter of the 2024 fiscal year. The net loss was $804.9 million, compared to a net loss of $9.3 million in the same period in 2023. Total revenue was $141.1 million, compared to $126.9 million in the same period last year. Operating revenue was $6.6 million, compared to $9.5 million in 2023. Adjusted EBITDA was $46 million, compared to $45 million in the same period last year. The loss was mainly due to a non-cash adjustment of $796 million in net equity and other valuable rights liabilities based on market value, as the equity value increased significantly between quarters.