Core Scientific, Inc. · NASDAQ:CORZ
Core Scientific — Core Scientific, Inc./tx — Corporate Update (November 2023)
22 slides from Core Scientific's corporate update, Nov 15, 2023
Slide 1: Core Scientific Cleansing Materials
Subject to FRE 408 and its Equivalents Exhibit 99.1 Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Core Scientific Cleansing Materials November 2023 Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel
Slide 2: Company Overview
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Company Overview (1) Key Operating Figures Background • Core was established in December 2017 as a digital asset mining owner-operator, u
Slide 3: Market Position: Self-Mined BTC January–September 2023
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Market Position Self-Mined BTC: January – September 2023 10,721 8,601 5,372 4,990 3,692 2,979 2,435 1,317 1,204 3 Note: Excludes third-pa
Slide 4: Experienced Management Team
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Experienced Management Team ADAM SULLIVAN MIKE LEVITT TODD DUCHENE Chief Administrative Officer CEO Chairman of the Board of Directors MA
Slide 5: Business Plan
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Business Plan Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Pre
Slide 6: Business Plan Strategy Overview
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Business Plan Strategy Overview Core’s business plan reflects management’s expectation of maintaining efficient post-emergence operations
Slide 7: Business Plan Strategy Overview (Cont'd)
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Business Plan Strategy Overview (Cont’d) Core’s business plan reflects management’s expectation of post-emergence operational execution,
Slide 8: Business Plan Background & Strategy
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Business Plan Background & Strategy • January 2024 – December 2027 Forecast Period • Assumes December 31, 2023 emergence • 145K self-mine
Slide 9: Business Plan Assumptions
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Business Plan Assumptions Assumptions Emergence Date• 12/31/23 Baseline Capacity• Beginning capacity of 724MW BTC Sales• All BTC sold as
Slide 10: Business Plan Assumptions (Cont'd)
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Business Plan Assumptions (Cont’d) Assumptions • Built up on a facility-by-facility basis, utilizing anticipated MWs operating at each fa
Slide 11: Business Plan Key Takeaways
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Business Plan Key Takeaways CORE SELF-MINING STATISTICS HOSTED MINERS 300k 50 70k 60k 250k 40 50k 200k 30 40k 150k 30k 20 100k 20k 10 50k
Slide 12: Business Plan Unlevered Free Cash Flow
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Business Plan Unlevered Free Cash Flow 2024E 2025E 2026E 2027E ($ in millions , unless specified otherwise) Revenue Digital Asset Mining
Slide 13: Power
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Power Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary
Slide 14: Power Overview
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Power Overview Power Background (1) Historical MW Capacity by Facility • Core anticipates continuing its growth in Texas post-emergence 1
Slide 15: Power Characteristics by Facility
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Power Characteristics by Facility Current Operational Total Available Capacity Facility Location Power Company Term / Expiration Capacity
Slide 16: Facility / Infrastructure CapEx
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Facility / Infrastructure CapEx Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Furthe
Slide 17: Facilities Overview
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Facilities Overview Current Operational 2 Location Type of Transaction Land (acres) Capacity Buildings (ft ) Status (1) (in MWs) Marble,
Slide 18: Facility Expansion Overview
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Facility Expansion Overview MW 1,200 1,096 1,096 1,046 996 996 996 946 1,000 896 896 896 2D 2C 846 2B 2A 796 796 796 796 724 724 800 1C 1
Slide 19: Facility Expansion Overview: Denton Expansion
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Facility Expansion Overview (Cont’d) Denton Expansion DENTON COST TO COMPLETE CapEx Remaining Unfinished Cost / MW Capacity Materials Lab
Slide 20: Facility Expansion Overview: Cottonwood Expansion
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Facility Expansion Overview (Cont’d) Cottonwood Expansion COTTONWOOD COST TO COMPLETE CapEx Remaining Unfinished Cost / MW Capacity Mater
Slide 21: Miner CapEx
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Miner CapEx Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preli
Slide 22: Miner Capex Overview
Subject to FRE 408 and its Equivalents Prepared at the Request of Counsel Confidential and Not for Further Distribution Preliminary and Subject to Material Change Miner Capex Overview The Company anticipates purchasing new miners over time to (i) fill current open capacity at Cottonwood, (ii) fill e
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