Core Scientific, Inc. Q4 FY2021 Earnings Call
· Earnings call transcript and AI-powered summary
- Date of Call: March 29, 2022
- CEO: Mike Levitt | CFO: Michael Trzupek | SVP IR: Steven Gitlin
- Core Business: Blockchain infrastructure and digital asset mining
FY 2021 Financial Highlights (Compared to FY 2020)
- Total Revenue: $544.5 million (up from $60.3 million)
- Net Income: $47.3 million (compared to a net loss of $12.2 million)
- Adjusted EBITDA: $238.9 million (up from $6 million)
- Cost of Revenue: $305.6 million (up $254.7 million YoY)
- Sales, Marketing, G&A Expenses: $64.7 million (tripled YoY)
- Non-operating Expenses: $68.4 million (up from $5.9 million)
- Cash & Cash Equivalents (End of 2021): $131.7 million (excluding $200.7 million raised from SPAC merger in Jan 2022)
- Bitcoin Holdings (as of Dec 31, 2021): 5,296 BTC ($224.8 million)
- Capital Expenditures for mining gear in 2021: $584 million (with $258 million balance remaining for 2022 deliveries)
Operational Highlights
- Hash Rate: Grew from under 3 EH/s to 13.5 EH/s in 2021
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