Core Scientific's second-quarter net loss was $804.90 million

Bitcoin miner Core Scientific has reported financial results for the second quarter of fiscal year 2024. Net loss was $804.90 million compared to a net loss of $9.30 million for the same period in 2023. Total revenue was $141.10 million compared to $126.90 million for the same period last year. Operating income was $6.60 million compared to $9.50 million for the same period in 2023. Adjusted EBITDA was $46 million compared to $45 million for the same period last year. The loss was primarily due to a non-cash mark-to-market adjustment of $796 million net for warrants and other contingent value liabilities as equity value increased significantly during the quarter.