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Core Scientific reports $265M net loss in Q4 2024 Bitcoin mining company Core Scientific has reported a net loss of $265 million for the fourth quarter of last year, according to Cointelegraph. The loss is largely due to a $224.7 million “non-cash mark-to-market adjustment” related to stock price increases, which the company clarified did not involve actual cash outflows. Previously, Core Scientific announced plans to invest $1.2 billion in expanding data centers in collaboration with cloud-computing startup CoreWeave. Related Story:

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Core Scientific deepens ties with CoreWeave for $1.2B expansion in Texas Core Scientific, a crypto mining company focused on high-performance computing (HPC) infrastructure, has expanded its partnership with cloud-computing startup CoreWeave. According to a press release on Core Scientific's website, the updated agreement adds $1.2 billion in revenue from an additional 70 MW of power at its location in Denton, Texas, bringing the site's total capacity to about 260 MW. This expansion increases CoreWeave’s overall contracted HPC resources with Core Scientific to roughly 590 MW across six sites. The new deal raises projected revenues to $10.2 billion over 12 years.

Fluence is urging cryptocurrency firms and industry players to commit to using decentralized physical infrastructure network solutions through the DePIN Pledge, backed by major organizations including IoTeX, Polygon, Helium, and Consensys. The cloudless computing platform Fluence is using the initiative to encourage cryptocurrency firms and projects to publicly commit to decentralized infrastructure, aiming to build more transparent and resilient ecosystems. Fluence believes that as the web3 and cryptocurrency space continues to evolve, maintaining decentralization has become more critical than ever. More often than not, decentralization has remained an ideal rather than a reality in the web3 ecosystem. The emergence of cloud hyperscalers and artificial intelligence computing has led many projects to rely on centralized infrastructure, straying from their original decentralized principles. According to a press release received by crypto.news, firms that commit to the pledge will be listed in a public directory on the DePIN Pledge website. This allows traders and users to browse and support companies that actively champion decentralization through their technology and infrastructure. Additionally, projects and firms that commit to the pledge will receive a manifesto and a DePIN Pledge NFT. The NFT is auditable on the Ethereum ( ETH ) blockchain and symbolizes their dedication to decentralization. The NFT can be displayed across platforms and social media channels. Aside from Fluence, this initiative is supported by major crypto firms such as Infura, Consensys , IoTeX, Infura, Outlier Ventures, Polygon, Helium , and Blockscout. Co-Founder & CEO of Fluence, Tom Trowbridge, expressed his excitement over the pledge, specifically their efforts to highlight businesses that are using DePIN to improve their operations. “We are at the very beginning of DePIN adoption and over the coming years we expect to see a wide range of DePIN products and services used by all kinds of projects and companies,” said Trowbridge. An example of decentralized technology adoption is Consensys and Infura’s collaboration in building the decentralized infrastructure network, which has been handling requests across multiple blockchains. Clemens Wan, global solutions architect at Consensys, emphasized that DIN is dedicated to delivering high-performance web3 infrastructure through permissionless and decentralized mechanisms. He noted that the DePIN Pledge aligns with DIN’s vision of ensuring that web3’s foundation remains decentralized. “We support the DePIN manifesto because the promise of Web3 cannot be fully realized until the core infrastructure services the industry relies on mirror the values we all stand for,” said Wan.

- Revenue dropped 40% to $69M, with declines in self-mining, hosting, and cloud hash rate services. - Despite setbacks, Bitdeer aims to boost self-mining capacity to 40 EH/ s by 2025 and expand power infrastructure to over 1 GW next year. - Shares fell 28% amid broader market declines, now at $9.49. What do you think about Bitdeer's strategy? Share your thoughts in the comments!