<p>Odaily Planet Daily reported that Bitcoin mining company Core Scientific announced its performance for the fourth quarter and the full year of 2024. The company reported a net loss of $265.50 million in the fourth quarter, mainly due to a non-cash fair value adjustment of $224.70 million related to "warrants and other contingent value rights liabilities." The company stated that due to a significant year-on-year increase in its stock price, it needed to update the accounting treatment of its financial obligations, necessitating this adjustment. Core Scientific emphasized that this loss does not represent an actual cash outflow. Earlier today, it was reported that Core Scientific reached a 12-year AI data center expansion agreement with CoreWeave, resulting in an 11% surge in its stock price. (Cointelegraph)</p>

Odaily Planet Daily News: Bitcoin mining company Core Scientific has announced its performance for the fourth quarter and the full year of 2024. The company reported a net loss of $265.50 million for the fourth quarter, primarily due to a non-cash fair value adjustment of $224.70 million related to "warrants and other contingent liabilities." The company stated that due to a significant year-on-year increase in its stock price, an update to the accounting treatment of its financial obligations was necessary, hence the adjustment. Core Scientific emphasized that this loss does not represent an actual cash outflow. Earlier today, it was reported that Core Scientific has reached a 12-year agreement with CoreWeave to expand its AI data centers, leading to an 11% surge in its stock price. (Cointelegraph)

Mining company Core Scientific announced its Q4 2024 financial report, showing a net loss of $265.50 million.