Core Scientific Announces Full Fiscal Year 2021 Results

AUSTIN, Texas, March 29, 2022–(BUSINESS WIRE)–Core Scientific, Inc. (NASDAQ: CORZ), a leader in high-performance, net carbon neutral blockchain infrastructure and software solutions, reported its consolidated financial results for the fiscal year ended December 31, 2021.

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Fiscal Year 2021 Financial Highlights (Compared to Fiscal Year 2020)

  • Total revenue increased by 803% to $544.5 million
  • Gross profit increased by 2,443% to $238.9 million
  • Net Income increased to $47.3 million
  • Adjusted EBITDA1 increased by 3,849% to $238.9 million
  • Self-mining operations increased BTC production 350% to 5,769 BTC2
  • 5,296 BTC held at year end
  • Total hashrate of 13.5 EH/s consisting of 6.6 EH/s self-mining and 6.9 EH/s hosting

“Our team produced strong results in 2021, highlighted by revenue of $544.5 million, net income of $47.3 million and adjusted EBITDA of $238.9 million,” said Mike Levitt, Core Scientific Chief Executive Officer. “Our total hashrate increased from less than 3.0 EH/s at year end 2020 to 13.5 EH/s at year end 2021. This market-leading growth generated over 5,700 self-mined bitcoins in 2021. In the first two months of 2022 our total hashrate grew to 15.9 EH/s and we self-mined over 2,000 bitcoins. Across our business we are executing our plans effectively and remain well positioned to continue expanding our capacity and creating shareholder value.”


Total revenue increased by $484.2 million or 803%, to $544.5 million in 2021 from $60.3 million in 2020.

Total hosting revenue increased by $37.7 million, or 91%, to $79.3 million in 2021 from $41.6 million in 2020. The increase was driven by the execution of new customer hosting contracts for miners deployed during the year ended December 31, 2021.

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