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Seeking Alpha 2022-03-07 14:49:28

Core Scientific trades high on preliminary 2021 and 2022 operating guidance

Core Scientific (CORZ +5.6%) sees prelim 2021 revenue to be in the range of $515 to $545M, net income of $50 to $60M and adj. EBITDA of $225 to $235M. It expects total operating hashrate of 31 EH/s to 40-42 EH/s, and operating capacity from 1.0 GW to 1.2-1.3 GW in 2022. The company produced 981 bitcoins, increased self-mining hashrate to 8.2 EH/s and increased hosted hashrate to 7.7 EH/s in February 2022. The year ended with 5,769 bitcoins and operating total hashrate of 13.5 EH/s, significantly ahead of expected 11.0 EH/s. "We believe that we are well positioned to achieve 40 to 42 EH/s of total hashrate by year end 2022, distributed approximately evenly between our self-mining and hosting segments. Our construction and power team is on pace to achieve 1.2 to 1.3 GW of operating infrastructure by year end to continue expanding our hosting and self-mining capacity," CEO Mike

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