Core Scientific(US:CORZ)2022-05-16 01:49Financial Performance - First Quarter 2022 revenue reached $192.5 million, a 255% increase year-over-year[8,14] - Adjusted EBITDA for the first quarter of 2022 was $93 million, a 644% increase year-over-year[9,14] - The company reported a net loss of $(466.2) million for the first quarter of 2022, primarily driven by $440 million in non-cash adjustments related to fair market valuation of convertible securities and digital asset holdings[8,14,15] - Digital asset mining revenue represented 69% of the first quarter revenue[18] Operational Highlights - Core Scientific mined 3,202 Bitcoins in the first quarter of 2022[12,14] - The company's total ending hashrate reached 16.2 EH/s as of the end of the first quarter[14] - Average mined Bitcoin was 37.4 BTC/Day in April 2022[8] Revised Expectations - The company revised its 2022 hashrate expectation to 30 to 32 EH/s[8,30] - The company revised its 2022 power expectation to approximately 1 GW[9,30] Strategic Positioning - The company emphasizes its market-leading scale and strong market position[10] - The company is expanding its distributed footprint across multiple geographies[21]