Core Scientific, a mining company, announced its Q4 2024 financial report, with a net loss of $265.5 million

According to Cointelegraph, Bitcoin mining company Core Scientific has announced its fourth quarter and full year results for 2024. The company reported a net loss of $265.5 million for the fourth quarter, primarily attributable to $224.7 million in non cash mark to market adjustments for warrants and other contingent rights liabilities. The company stated that due to a significant year-on-year increase in its stock price, it is necessary to update the accounting treatment of its financial obligations and therefore make adjustments. Core Scientific emphasizes that this loss does not represent actual cash outflows. Prior to today's news, Core Scientific and CoreWeave reached a 12 year AI data center expansion agreement, causing their stock prices to surge by 11%.