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Merger proceeds allocation

Company: Core Scientific

Subject kind
financing
Statement date
2022-05-12
Promised amount
195.0 USD millions
Current status
stated

The claim, verbatim

The company will use approximately $195.0 million in net cash proceeds from the XPDI merger to fund mining equipment purchases and infrastructure build-out.

Source (primary)

Core Scientific 10-Q filed 2022-05-13 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗

Quote: “The proceeds from the Merger will be used to fund mining equipment purchases and infrastructure build-out as the Company expands its leadership position.”

How we checked this

Attempted on September 22, 2026. We could not read enough of the cited source to check this claim.

The verification run did not return a result for this claim (claude -p exit 1: b'').

What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1839341/000162828022014350/core-20220331.htm) in full (490,956 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.

Additional evidence

confirms Core Scientific 10-Q filed 2022-05-13

Quote: “The proceeds from the Merger will be used to fund mining equipment purchases and infrastructure build-out as the Company expands its leadership position.”

View cached copy (2026-09-13)Live source ↗