The mean estimate comprises five short-term price targets with a standard deviation of $3.22. While the lowest estimate of $8.50 indicates a 22.8% decline from the current price level, the most optimistic analyst expects the stock to surge 54.4% to reach $17. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts. Price, Consensus and EPS Surprise While Wall Street analysts ...

But the Bitcoin halving, which took place on April 19, changes everything. We've now entered a new halving cycle, and changes brought about by the Bitcoin algorithm could have profound implications for mining stocks over the next 12 months. Let's take a closer look. That's why the period immediately following the halving is filled with so much uncertainty. Bitcoin miners need to make up for their dramatic revenue shortfall, otherwise they could go out of business. Even before the halving took place in April ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40046 Core Scientific, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

Exhibit 99.1 corescientific.com Core Scientific Announces Fiscal First Quarter 2024 Results Fiscal First Quarter 2024 Highlights AUSTIN, Texas, May 8, 2024 - Core Scientific, Inc. (NASDAQ: CORZ), a leader in bitcoin mining, specializing in application-specific digital infrastructure for emerging high-value compute, today announced financial results for the fiscal first quarter of 2024. Net income was $210.7 million, as compared to a net loss of $0.4 million for the same period in 2023. Total revenue was $17 ...

Core Scientific, Inc. (NASDAQ:CORZ) Q4 2023 Earnings Conference March 12, 2024 4:30 PM ET Company Participants Steven Gitlin - SVP, Investor Relations Adam Sullivan - CEO Denise Sterling - CFO Conference Call Participants Joe Flynn - Compass Point John Todaro - Needham & Company Lucas Pipes - B. Riley Rosemary Sisson - Odeon Capital Joseph Vafi - Canaccord Genuity Kevin Dede - H.C. Wainwright Jack Chan - Imperial Capital Gregory Lewis - BTIG Darren Aftahi - ROTH MKM Josh Schimmer - Cantor Fitzgerald Operato ...

Bankruptcy and Reorganization - The company emerged from bankruptcy on January 23, 2024, after confirming its Plan of Reorganization[18]. Bitcoin Mining Operations - As of December 31, 2023, the company had deployed approximately 209,100 bitcoin miners, consisting of approximately 158,000 self-miners and approximately 51,100 hosted miners, achieving a total hashing power of 23.2 EH/s[37]. - The company improved its average self-mining fleet energy efficiency to 27.94 joules per terahash as of December 31, 2023[36]. - The company operates seven data centers across Georgia, Kentucky, North Carolina, North Dakota, and Texas for its bitcoin mining operations[30]. - The company focuses on increasing its bitcoin mining capabilities and enhancing operational efficiencies to reduce mining costs[30]. - The company has a total contracted power capacity of 1,198 MW across various facilities, with the largest being 297 MW in Denton, Texas[41]. Bitcoin Market Performance - Bitcoin's daily exchange volume increased from $1 million in January 2017 to $510 million in December 2023[25]. - The trading price of one bitcoin ranged from a high of $44,167 in December 2023 to a low of $16,625 in January 2023[25]. - Bitcoin prices for fiscal 2023 ranged from a low of $16,625 to a high of $44,167, with an average price of $28,859[459]. - A hypothetical 10% increase or decrease in the price of bitcoin would have resulted in a net loss change of approximately $38.9 million[459]. Employee and Labor Relations - The company has 286 full-time employees as of December 31, 2023, with no labor union representation[31]. Technology and Innovation - The company has filed over 120 patent applications in technologies related to blockchain and data center management[49]. - The company has entered into agreements with Bitmain for the acquisition of 28,400 Antminer S19J XP miners and approximately 12,900 Antminer S21 miners, with deliveries scheduled from late 2023 to the first half of 2024[36]. Competitive Landscape - The company competes with numerous other bitcoin mining operations globally, focusing on efficiency and access to affordable power[42]. - The bitcoin mining industry is evolving, with new competitors and technologies potentially impacting the company's market position[47]. Regulatory Environment - The company is subject to evolving government regulations regarding digital assets, which could materially affect its operations[51]. - Environmental regulations may impose additional costs on the company, particularly related to energy sources used for bitcoin mining[56]. Commodity Price Sensitivity - A hypothetical 10% change in commodity prices would have resulted in an immaterial change in the fair value of the company's commodity-based derivatives[461].

Financial Performance - Total revenue for the three months ended September 30, 2023, was $112.9 million, a decrease of 30.6% compared to $162.6 million for the same period in 2022[164]. - Total revenue for the nine months ended September 30, 2023, was $360.5 million, down 30.6% from $519.1 million for the same period in 2022[165]. - Total revenue decreased by $49.7 million or 31%, to $112.9 million for the three months ended September 30, 2023, from $162.6 million for the same period in 2022[240]. - Total revenue for the company declined by 31% to $112.9 million in Q3 2023 from $162.6 million in Q3 2022[262]. - For the nine months ended September 30, 2023, consolidated total revenue decreased by 31% to $360.5 million compared to $519.1 million in the same period of 2022[283][287]. Operating Losses and Net Losses - Operating losses for the three months ended September 30, 2023, were $12.0 million, significantly improved from an operating loss of $401.4 million in the same period of 2022[164]. - Net losses for the three months ended September 30, 2023, were $41.1 million, compared to $434.8 million for the same period in 2022[164]. - The company had an operating income of $5.0 million for the nine months ended September 30, 2023, compared to an operating loss of $1.5 billion for the same period in 2022[165]. - Net losses for the nine months ended September 30, 2023, were $50.8 million, a significant reduction from $1.7 billion for the same period in 2022[165]. - Loss before income taxes improved by 90% to $41.0 million in Q3 2023, compared to a loss of $424.2 million in Q3 2022[262]. Adjusted EBITDA - Adjusted EBITDA for the three months ended September 30, 2023, was $27.9 million, an increase of 55.3% from $17.9 million in the same period of 2022[164]. - Adjusted EBITDA for the nine months ended September 30, 2023, was $113.0 million, compared to $170.1 million in the same period of 2022[216]. Revenue Breakdown - Total revenue primarily consists of hosting operations, equipment sales, and digital asset mining income, with hosting revenue based on electricity consumption contracts[223]. - Hosting revenue from customers decreased by $8.7 million or 24%, to $27.0 million for the three months ended September 30, 2023, from $35.7 million for the same period in 2022[241]. - Hosting revenue from related parties decreased by $6.4 million or 69%, to $2.8 million for the three months ended September 30, 2023, from $9.2 million for the same period in 2022[242]. - Digital asset mining revenue for the nine months ended September 30, 2023, was $278.1 million, while the end of period digital assets totaled $559,000[195]. - Digital asset mining revenue increased by $2.6 million or 3%, to $83.1 million for the three months ended September 30, 2023, from $80.5 million for the same period in 2022[239]. Cost and Expenses - Total cost of revenue decreased by $92.2 million or 49%, to $97.5 million for the three months ended September 30, 2023, from $189.6 million for the same period in 2022[239]. - Operating expenses decreased by $22.8 million or 46%, to $26.8 million for the three months ended September 30, 2023, from $49.6 million for the same period in 2022[239]. - Total operating expenses decreased by 46% to $26.8 million in Q3 2023 from $49.6 million in Q3 2022[262]. - Total operating expenses decreased by $132.2 million or 63%, to $78.1 million for the nine months ended September 30, 2023, from $210.4 million in 2022[271]. Impairments and Gains - The company recorded a $20.8 million gain on extinguishment of debt after transferring miners back to NYDIG, fully extinguishing the NYDIG Loan[176]. - Gain from sales of digital assets decreased by $10.7 million to $0.4 million for the three months ended September 30, 2023, from $11.0 million in the same period of 2022, with proceeds of $88.1 million against a carrying value of $88.5 million[247]. - Impairment of digital assets decreased by $7.3 million to $0.7 million for the three months ended September 30, 2023, from $8.0 million in the same period of 2022[248]. - Impairment of goodwill and other intangibles decreased by $268.5 million to nil for the three months ended September 30, 2023, from $268.5 million in the same period of 2022[249]. Cash and Liquidity - Cash and cash equivalents increased by 165% to $42.1 million as of September 30, 2023, compared to $15.9 million at the end of 2022[294]. - The company has $35.0 million of undrawn borrowing capacity under the Replacement DIP Facility as of September 30, 2023[288]. - Net cash provided by operating activities was $43.4 million for the nine months ended September 30, 2023, down from $89.2 million in the same period of 2022[297]. Market and Operational Strategy - The business strategy focuses on increasing self-mining capacity and entering strategic colocation opportunities to enhance revenue and profitability[189]. - The company faces significant competition in acquiring new miners and securing low-cost electricity, impacting its operational strategy[210]. - The cost of new mining equipment has become unpredictable due to market fluctuations, with recent declines in digital asset values leading to excess supply[208]. - The next bitcoin halvening is anticipated to occur in early 2024, reducing the mining reward from 6.25 bitcoin per block[205]. Other Notable Events - The company filed for Chapter 11 bankruptcy on December 21, 2022, and continues to operate under the jurisdiction of the Bankruptcy Court[166]. - The company remains classified as an "emerging growth company" under the JOBS Act, allowing it to take advantage of certain reporting exemptions until February 12, 2026, or until it no longer qualifies[309][310]. - There were no material changes to critical accounting policies and estimates during the nine months ended September 30, 2023[307].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40046 Core Scientific, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40046 Core Scientific, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ___________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR Delaware 86-1243837 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 210 Barton Springs Road Suite 300 Austin Texas (Address of Principal Executive Offices) 78704 Commission file number 001-40046 ☐ ...