Bitcoin mining firm Core Scientific recently released its financial results for the second quarter of fiscal year 2024, revealing substantial economic pressures the company is facing. In the mentioned quarter, Core Scientific reported a net loss of $804.9 million, a significant increase from the $9.3 million loss reported in the same period last year. Despite this, the company's total revenue remained at $141.1 million, a slight decrease from $126.9 million reported in the previous year. The operating income and adjusted EBITDA dropped to $6.6 million and $46 million respectively, indicating challenges in the company's profitability. The primary cause of this outcome was a non-cash adjustment of $796 million on warrants and other or valuable equity instruments carried at fair value, reflecting a substantial increase in equity value over the quarter. This adjustment had a major impact on Core Scientific's financial condition.