Crypto-Follow logo Crypto-Follow logo
Seeking Alpha 2022-04-08 09:35:00

Core Scientific Posts 3849% EBITDA Growth And Bitcoin Holdings Worth ~$400M

In this article, we review Core Scientific's FY 2021 results, released last week. Core Scientific also released its first annual report.Revenue increased by 803%; gross profit increased by 2443%; adj. EBITDA increased by 3849%. Net income swung from a loss to positive, despite the costs of significant expansion.Hashrate increased from 3.0 EH/s to 13.5 EH/s. Core Scientific expects it will increase to 40 ~ 42 EH/s by the end of this year.Core Scientific held 7,355 bitcoins at the end of February. Core Scientific is already producing over 1,000 bitcoin/month.Core Scientific followed last week's release by announcing it had 8,497 bitcoins at the end of March, worth nearly $400M at the time of the announcement.

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer