Core Scientific Inc ( (CORZ) ) has issued an update.
Core Scientific reported a significant net loss of $455.3 million in Q3 2024, mainly due to a $408.5 million mark-to-market adjustment on warrants. Despite this, the company continues to expand its high-performance computing (HPC) business, securing contracts that could generate $8.7 billion over 12 years, and reducing interest rates on its debt through a $460 million convertible note offering. The company’s push towards HPC hosting reflects a strategic shift from its traditional bitcoin mining operations, aiming to maximize shareholder value.
For a thorough assessment of CORZ stock, go to TipRanks’ Stock Analysis page.
