Core Scientific disclosed a net loss of $347 million in the first quarter, with its stock price falling 7% after hours According to The Block, Bitcoin mining company Core Scientific released its first quarter financial report. Despite year-on-year growth in revenue and gross profit, it incurred a net loss of $347 million due to non cash impairment losses and changes in fair value of warrants, compared to a net profit of $576 million in the same period last year. The company's total revenue for the first quarter was $115.2 million, higher than the same period last year's $79.5 million; Among them, the revenue from custody business was about 77.5 million US dollars, far higher than the 8.6 million US dollars in the same period last year; The revenue from self mining decreased from $67.2 million in the same period last year to $30.1 million. The company stated that the decrease in self mining revenue is mainly due to a 45% reduction in Bitcoin mining volume and an 18% drop in Bitcoin average price. After the release of the financial report, Core Scientific's stock price fell 7% in after hours trading.