Key Takeaways
- Core Scientific mined 19,274 BTC in 2023, valued at $1.4 billion.
- Despite a net loss, the company's revenue increased by $239.2 million.
- Core Scientific mined more BTC in 2023 than any other North American Bitcoin miner.
Core Scientific (NASDAQ:CORZ), once on the brink of collapse, has made a strong recovery.
In 2023, the company mined an impressive 19,274 bitcoin, valued at around $1.4 billion.
Financial recovery and leadership
After resuming trading on Nasdaq, Core Scientific reported a net loss of $195.7 million.
CEO Adam Sullivan stated:
Core Scientific earned more self-mined bitcoin than any other listed miner in North America.
Overcoming past challenges
Despite a 22% decrease in total revenue compared to 2022, Core Scientific’s resurgence is clear.
The company now owns and manages 724 megawatts of Bitcoin mining infrastructure, one the most in the mining industry.
Ambitious growth plans
Looking ahead, Core Scientific has already paid for all its new 2024 bitcoin mining hardware.
The company aims to increase mining capacity by 50% over the next four years.
