You buy shares in a mining company, thinking you’ll ride the movement of $BTC . But the company’s business can change too.
On November 5, Core Scientific reported its third-quarter results: $215.4 million from hosting customers’ equipment in its data centers, out of $232.9 million in total revenue. Its own mining operations and those it ran for third parties accounted for around 7.5%.
Calling it a “bitcoin miner” no longer tells you much about where its money comes from.
That changes the decision: you can still be convinced about BTC and yet have to reconsider whether that company gives you the exposure you were looking for.
Have you ever found that an investment ended up depending on something different from what you had in mind when you bought it?
On November 5, Core Scientific reported its third-quarter results: $215.4 million from hosting customers’ equipment in its data centers, out of $232.9 million in total revenue. Its own mining operations and those it ran for third parties accounted for around 7.5%.
Calling it a “bitcoin miner” no longer tells you much about where its money comes from.
That changes the decision: you can still be convinced about BTC and yet have to reconsider whether that company gives you the exposure you were looking for.
Have you ever found that an investment ended up depending on something different from what you had in mind when you bought it?