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Core Scientific breaks hard from the pack, the wrong way

From axios.com

Crypto mining stocks have given back a lot over the past 30 days — mainly the ground they won amid the run-up in bitcoin prices — but Core Scientific has been cut down more than others. Driving the news: With its stock already down 86% in the past month, Core Scientific in a filing Tuesday disclosed $1.7 billion in losses this year through the end of September. • Its top two customers, who Core Scientific provided hosting services for, accounted for 40% and 20% of its equipment sales and hosting revenue, the company said. • One of them was bankrupt crypto lender Celsius Network. The big picture: Miners were starting ... (full story)

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  • Category: Fundamental Analysis