The Bitcoin miner posted decreased YOY revenues for 2023 but said narrowing losses and increased investments in infrastructure are strong points heading into the Bitcoin halving.
Crypto mining firm Core Scientific (CORZ) reported a fall in year-on-year revenues in its Q4 2023 results and a significant reduction in net losses, with its shares falling 4% in after-hours trading.
In a March 12 earnings release, Core Scientific said its last year’s total revenue was $502.4 million, a decrease of $137.9 million from $640 million in 2022.
The yearly revenue drop came from the company leaving the mining rig sales business and an increase in the global Bitcoin hash rate in 2023, it said.
