Q2 2022 gross profit decline
Company: Core Scientific
The claim, verbatim
Core Scientific reported Q2 2022 gross profit of $12.7 million, down 48% from Q1 2022, driven by higher power costs and lower bitcoin prices.
Source (primary)
Core Scientific, Inc. — Entry #1842: Adversary case 22-03345 (RECAP (purchased via PACER), court_filing)
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Quote: “Gross profit of $12.7 million decreased by $11.8 million, or 48%, from $24.5 million. The decrease in gross margin for the mining segment was driven by higher miner depreciation as well as higher power costs and lower average price per bitcoin mined.”
How we checked this
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Additional evidence
confirms Core Scientific, Inc. — Entry #1842: Adversary case 22-03345
Quote: “Gross profit of $12.7 million decreased by $11.8 million, or 48%, from $24.5 million. The decrease in gross margin for the mining segment was driven by higher miner depreciation as well as higher power costs and lower average price per bitcoin mined.”