Core Scientific Reveals $210 Million Gain in Q1 2024 Financial Results
Thursday, 9 May 2024, 11:57
Core Scientific Rises from Ashes, Reports $210 Million Gain in Q1 2024
Core Scientific’s Q1 2024 earnings highlight a $150 million revenue boost and a $210 million net income recovery.
Core Scientific’s Financial Strategy Post-Bankruptcy
In this quarter, Core Scientific achieved a net income of $210.7 million. This improvement was largely due to a gain of $143.8 million from the extinguishment of pre-emergence obligations. The company also reported adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $88 million. Core Scientific showed financial resilience by retiring $19 million in obligations.
- Net income recovery of $210 million
- Adjusted EBITDA of $88 million
- Retirement of $19 million in obligations
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.