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

ChainCatcher news, according to Cointelegraph, Bitcoin mining company Core Scientific has announced its performance for the fourth quarter and the entire year of 2024. The company reported a net loss of $265.5 million in the fourth quarter, primarily due to a non-cash mark-to-market adjustment of $224.7 million related to "warrants and other contingent value rights liabilities."

The company stated that due to a significant year-over-year increase in its stock price, it needed to update the accounting treatment of its financial obligations, necessitating the adjustment. Core Scientific emphasized that this loss does not represent an actual cash outflow.