By Chris WackCore Scientific Inc. shares were up 19% to $4.59 after the company reported its first-quarter revenue more than tripled, and its bitcoin mining was up more than 1,400%. The blockchain data provider said its quarterly revenue was $192.5 million, compared to revenue of $54.2 million in the same quarter last year. Analysts polled by FactSet were looking for revenue of $200.3 million. The revenue gain was driven primarily by increases in digital asset mining revenue and hosting revenue, partially offset by a decrease in equipment sales. Core Scientific said its quarterly loss was driven by a noncash mark-to-market adjustment on convertible notes of $386 million and an impairment on digital assets of $54 million.

Source: Wall Street Journal May 14, 2022 05:18 UTC