Core Scientific lowers 2022 hashrate guidance after mixed Q1

Bitcoin miner Core Scientific (NASDAQ:CORZ) on Thursday has "de-risked" its full-year hashrate guidance following mixed Q1 earnings results, CEO Mike Levitt. It sees a total hashrate in a range of 30 exahash per second ("EH/s") to 32 EH/s, with total power of approximately 1 gigawatt ("GW"), compared with 40 EH/s to 42 EH/s, with power of 1,200 megawatts ("MW") and 1,300 MW in the prior view. Meanwhile, adjusted EPS of $0.31 breezed past the average analyst estimate of $0.09 and jumped from $0.06 in Q1 a year ago. Revenue of $192.52M fell short of the consensus of $196.67M but soared from $54.25M in Q1 2021, driven by increases in cryptocurrency mining revenue and hosting revenue. Digital asset mining income was $133M as of March 31, compared with just $9.63M as of March 31, 2021. Hosting revenue from customers were $27.34M in Q1 vs. $8.4M in Q1 2021. Cost of revenue was