Core Scientific, a mining company, announced its Q4 2024 financial report, with a net loss of US$265.5 million

On February 27th, according to Cointelegraph, Bitcoin mining company Core Scientific announced its fourth quarter and full-year performance for 2024. The company reported a net loss of $265.5 million in the fourth quarter, mainly due to a $224.7 million "adjustment to stock options and other non-cash liabilities at fair value." The company stated that due to a significant year-over-year increase in its stock price, accounting treatment for financial obligations needed to be updated, hence the adjustment. Core Scientific emphasized that this loss does not represent actual cash outflow.

Earlier today, Core Scientific reached a 12-year AI data center expansion agreement with CoreWeave, leading to an 11% increase in stock price.