Mandatory convertible notes conversion triggered July 2024
Company: Core Scientific
What the later record shows
Not a promise: a reported event · happened July 5, 2024
The August 7, 2024 statement reports a conversion that had already been triggered on July 5, 2024. A later debt table shows the $234M Secured Convertible Notes balance falling to zero by September 30, 2024.
“As of June 30, 2024 $ — $ 234 $ 61 $ 150 $ 60 $ 43 $ 3 $ 1 $ 552 Additions and (Paydown) 460 (234)”
2024-12-03 · December 2024 Convertible Note Presentation View cached copy (2026-09-26)Live source ↗Archive.org ↗
Checked October 10, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Secured Convertible Notes mandatory conversion triggered July 5, 2024, equitizing remaining $234M debt
Source (primary)
Second Quarter Fiscal Year 2024 Earnings Presentation (IR page (investors.corescientific.com), ir_presentation)
View cached copy (2026-09-01)Live source ↗
Quote: “Secured Convertible Notes mandatory conversion triggered 7/5/24, resulting in equitization of remaining $234M”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The debt slide states the mandatory conversion was triggered 7/5/24 and equitized the remaining $234M. A later slide in the same presentation gives the trigger date as July 4, 2024, so the document is internally inconsistent on the exact day.
Confirmed in the source:
- The Secured Convertible Notes' mandatory conversion was triggered on July 5, 2024 (stated as 7/5/24 on the debt slide)
- The mandatory conversion equitized the remaining approximately $234M of convertible notes debt
What we did: Read our cached copy of IR page (investors.corescientific.com) (https://d1io3yog0oux5.cloudfront.net/_eb9c314ac28438fbd39d12d91c4e5bdc/corescientific/db/1066/11129/pdf/Core_Scientific_Q2_2024_Earnings_Presentation.pdf) in full (24,266 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Second Quarter Fiscal Year 2024 Earnings Presentation
Quote: “Secured Convertible Notes mandatory conversion triggered 7/5/24, resulting in equitization of remaining $234M”