Bitcoin miner Core Scientific announced a net loss of $347 million for Q1, despite a revenue increase to $115.2 million from $79.5 million year-over-year. The loss was attributed to non-cash impairment charges and changes in the fair value of warrants. Revenue from hosting services surged to $77.5 million, up from $8.6 million, while self-mining revenue fell to $30.1 million due to a 45% drop in mining output and an 18% decrease in Bitcoin prices. Following the earnings report, Core Scientific's stock declined by 7% in after-hours trading.