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.