Mining company Core Scientific announces Q4 2024 financial report, with a net loss of US$265.5 million

Odaily News Bitcoin mining company Core Scientific announced its fourth quarter and full-year results for 2024. The company reported a net loss of $265.5 million in the fourth quarter, mainly attributable to $224.7 million in "non-cash mark-to-market adjustments for warrants and other contingent value rights liabilities." The company said that adjustments were necessary because its stock price had risen sharply year-on-year and the accounting treatment of financial obligations needed to be updated. Core Scientific emphasized that the loss does not represent actual cash outflows. Earlier today, Core Scientific reached a 12-year AI data center expansion agreement with CoreWeave, and its stock price soared 11%. (Cointelegraph)