Business
Core Scientific Announces Preliminary 2021 Financial Results, 2022 Operating Guidance and February Updates
Preliminary 2021 revenue of $515 million to $545 million, net income of $50 million to $60 million and adjusted EBITDA of $225 million to $235 million
About this update from Core Scientific, Inc.
[{"type":"text","content":"\n\nPreliminary 2021 revenue of $515 million to $545 million, net income of $50 million to $60 million and adjusted EBITDA of $225 million to $235 million\n\n\nExpects total operating hashrate of 31 EH/s to 40-42 EH/s, and operating capacity from 1.0 GW to 1.2-1.3 GW in 2022\n\n\nProduced 981 bitcoins, increased self-mining hashrate to 8.2 EH/s and increased hosted hashrate to 7.7 EH/s in February 2022\n\n\n AUSTIN, Texas--(BUSINESS WIRE)--\nCore Scientific, Inc. (NASDAQ: CORZ) (\"Core Scientific\" or “the Company”), a leader in high-performance, net carbon neutral blockchain infrastructure and software solutions, today announced preliminary financial results for the fiscal year ending December 31, 2021, initial fiscal year 2022 operating guidance and February production and operations updates.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220307005380/en/Core Scientific is a leader in blockchain infrastructure and digital asset mining. (Graphic: Business Wire)\n2021 PRELIMINARY RESULTS AND EARNINGS RELEASE DATE\n\n“Our team’s outstanding efforts this past year delivered strong financial results that comfortably exceeded our expectations,” said Mike Levitt, Core Scientific Chief Executive Officer. “We expect 2021 revenue to be $515 million to $545 million, net income of $50 million to $60 million and adjusted EBITDA of $225 million to $235 million. We ended the year having produced 5,769 bitcoins and operating total hashrate of 13.5 EH/s, well ahead of our anticipated 11.0 EH/s. We are pleased with the performance of our company, our team and our infrastructure, and look forward to continuing to build value for our shareholders in 2022.”\n\nCore Scientific expects to release fourth quarter and full fiscal year 2021 results after the market closes on March 29, 2022 and will hold a conference call later that day. Please visit the Events and Presentations section of the Company’s website to learn more:\n\nhttps://investors.corescientific.com/investors/events-and-presentations/default.aspx\n\n2022 OPERATING GUIDANCE\n\n“We believe that we are well positioned to achieve 40 to 42 EH/s of total hashrate by year end 2022, distributed approximately evenly between our self-mining and hosting segments. Demand for our hosting capacity remains strong and continues to exceed our ...