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Core Scientific posts big gains

Core Scientific posted huge losses in its latest quarterly results.

By Mike Hesp
• 1 min read
Core Scientific posts big gains

Core Scientific posted huge losses in its latest quarterly results. Thanks to a rescue loan on offer, the company's stock has more than doubled.

More than $430 million in losses: that’s the tally from Core Scientific's latest quarterly results as a Bitcoin miner. After the company voiced serious doubts about its survival, the mining firm was offered a rescue loan.

It’s not yet clear whether the miner will accept the $72 million loan offer from investment bank B. Riley. Core Scientific is publicly traded. Since the rescue loan was announced, the company’s stock (CORZ) has more than doubled.

The stock had fallen from over $3 in mid-August to under $0.20. Now the price is inching back toward its old level. Whether the offer will be enough to save Core Scientific from bankruptcy remains to be seen.

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