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Bitcoin mining firm Core Scientific announced that total revenue for fiscal year 2023 amounted to $502.4 million, reflecting a decrease of $137.9 million or 22% from the $640.3 million recorded in the previous year.
This included an $82.8 million reduction resulting from the company’s withdrawal from the equipment sales business in fiscal year 2022, a decrease of $47.6 million in hosting revenue due to the termination of contracts for certain clients with less profitable hosting rates, and a $7.5 million decline in revenue from digital asset mining.
However, this decrease was partially offset by an increase in revenue due to the deployment of additional mining units in our self-mining fleet.
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