The miner also reiterated its 2022 hashrate expectations.Read MoreFeedzy
The largest publicly traded bitcoin miner by hashrate, Core Scientific (CORZ), said its fiscal 2021 revenue rose 803% to $544.5 million, beating analyst estimates of $507.1 million, according to FactSet.
The miners’ fiscal year adjusted earnings per share (diluted) came in at $0.32, which may not compare to consensus analyst estimate of $0.44, according to FactSet. The company became public in January through a merger with SPAC Power & Digital Infrastructure Acquisition.
“Across our business we are executing our plans effectively and remain well positioned to continue expanding our capacity and creating shareholder value,” said CEO Mike Levitt in a statement.
The miner stuck to its 2022 hashrate guidance to 40 EH/s and 42 EH/s. On March 7, Core said it sees hashrate reaching 40 EH/s-42 EH/s by the end of this year, which will be distributed approximately evenly between its self-mining and hosting segments.
Shares rose almost 3% to $8.95 in post-market trading on Tuesday as bitcoin prices rose 1.2%. Core Scientific shares are down about 19% this year.
Core Scientific is scheduled to host an earnings call with analysts at 4:30 p.m. ET.
This is a developing story and will be updated.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Bets on rising prices accounted for nearly 84% of forced closures, with Binance handling almost…
All 18,270 coins sit in 19 wallets, 17 of them holding exactly 1,000 BTC each,…
Bitcoin and ether slid after a suspected $6.3 billion Binance security breach and a Polymarket…
Bitcoin Magazine Bitcoin Price Briefly Slides to $76,300 as Binance Confirms Hack Estimated at $6.3…
Bitcoin Magazine Bitcoin Price Slides Below $79,000 as Binance Loses $5.8 Billion in Massive Hack…
Bitcoin Magazine Strategy (MSTR) Posts Record Operating Income as Bitcoin Rebounds in Q3 2026 Strategy…