Core Scientific, Inc. · NASDAQ:CORZ
Core Scientific — Core Scientific, Inc./tx — FY2021 Earnings Presentation
13 slides from Core Scientific's earnings presentation, Mar 29, 2022
Slide 1: Fiscal Year 2021 Earnings Presentation
Exhibit 99.2 Fiscal Year 2021 Earnings Presentation March 29, 2022
Slide 2: Legal Disclaimer - Forward-Looking Statements
Legal Disclaimer Forward-LookingStatements This presentation includes “forward-looking statements'' within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “esti
Slide 3: Fiscal Year 2021 Key Highlights
Fiscal Year 2021 Key Highlights • Strong financial results • Market-leading scale • Good progress toward achieving 2022 growth projections • Strong market position MARCH 29, 2022 3
Slide 4: Fiscal 2021 Performance Summary
Fiscal 2021 Performance Summary Metric (dollars in millions) Full Fiscal Year 2021 Notes Ending hashrate 13.5 EH/s Exceeded previous guidance by 23% 1 Bitcoins produced 5,769 Produced 1,044 bitcoins in December Bitcoins held 5,296 $224.8 million carrying value as of 12/31/21 ($42,500/1 BTC) Expanded
Slide 5: Core Scientific Mined More Bitcoins than Other Publicly Traded Digital Asset Miners
Core Scientific Mined More Bitcoins in the Last Three Months than Other Publicly Traded Digital Asset Miners Market Leader In A Large, Growing Market 457 BTC Mined (Dec ‘21 - Feb ‘22) 350 3,102 (1) 144 105 2021 MW Online 50 30 1,319 1,307 4000 873 3,102 3500 3000 2500 BTC Mined 2000 360 1,319 1,307
Slide 6: Expanding Our Distributed Footprint Across Multiple Geographies
Expanding Our Distributed Footprint Across Multiple Geographies MARCH 29, 2022 6
Slide 7: Expanded Capacity and Increased Self-Mining Drove Increases in Revenue and Adjusted EBITDA
Expanded Capacity and Increased Self-Mining Drove Increases in Revenue and Adjusted EBITDA Revenue, Net Income, Revenue (Millions) Adj. EBITDA (Millions) (Unaudited) 2020 2021 Equipment Sales $12.6 $248.2 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Self-Mining $6.1 $216.9 Equipment Sales $31.9 $46.0 $35.5 $134.
Slide 8: Select 2021 Quarterly and Annual Results
Select 2021 Quarterly and Annual Results (Thousands) First Second Third Fourth Fiscal Year Fiscal Year Quarter Quarter Quarter Quarter 2021 2020 inasdf Unaudited Revenue $54,246 $75,303 $113,139 $301,795 $544,483 $60,320 Cost of Revenue $39,713 $50,766 $54,714 $160,428 $305,621 $50,928 Research and
Slide 9: Expectations For Fiscal Year 2022
Expectations For Fiscal Year 2022 Fiscal Year 2021 Fiscal Year 2022 Metric Results Expectations Hashrate 13.5 EH/s 40 to 42 EH/s Power 450+ MW 1,200 to 1,300 MW MARCH 29, 2022 9
Slide 10: Good Progress toward Achieving 2022 Goals
Good Progress toward Achieving 2022 Goals Projected Year-End 2022 Hashrate (EH/s) 41 EH/s Midpoint of 4.3 Guidance Range 1 23.2 13.5 Hashrate from Miners Ordered and Hosting Year-End 2021 Contracted in 2021 to Install in 2022 Hashrate from Miners to Order and Hosting to Contract and Install in 2022
Slide 11: Why Core Scientific?
Why Core Scientific? MARKET LEADER FULL SPECTRUM TRACK TEAM IP RECORD 1 2 4 5 3 A Leading Consistent Growth in Integrated Self- Deep, Experienced Proprietary Blockchain Capacity and Infrastructure Mining and Hosting Team Technology Capability Developer at Scale MARCH 29, 2022 11
Slide 12: Infrastructure to Power the World's New Financial System
Infrastructure to Power the World’s New Financial System 12
Slide 13: Appendix A – Reconciliation of Fiscal Year 2020-2021 Adjusted EBITDA
Appendix A – Reconciliation of Fiscal Year 2020-2021 Adjusted EBITDA (Unaudited, Thousands) Year Ended December 31, 2021 2020 Net income (loss) $ 47,312 $ (12,206) Adjustments: Interest expense, net 44,354 4,436 Income tax expense 15,763 — Depreciation and amortization 33,362 9,403 Loss on debt from
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