🚀Core Scientific, the Bitcoin mining leader, is soaring high post-bankruptcy! Q1 2024 financials show a net income of $210.7M, a huge leap from last year's $0.4M loss.

💰Key figures:

- Total revenue: $179.3M (up from $120.7M)

- Operating income: $55.2M (up from $7.6M)

- Adjusted EBITDA: $88.0M (up from $40.3M)

CEO Adam Sullivan credits favorable market conditions and a focus on productivity. 🎯

💼Revenue streams are booming:

- Digital asset mining revenue: $150.0M (thanks to a 134% Bitcoin price increase & 20% self-mining hash rate increase)

- Hosting revenue: $29.3M (boosted by new digital asset mining clients)

🔌They're considering repurposing 500MW of their infrastructure for high-performance computing, with plans to increase their Bitcoin mining hash rate and develop a high-performance computing service.

📈Strategic initiatives have played a big part in this success, including retiring $19M in obligations, expanding hosting offerings, deploying new miners, and expanding operational infrastructure.

🗣️Join the conversation! What do you think about Core Scientific's comeback? #BitcoinMining #CoreScientific #MarketOptimism