Core Scientific books $41.9M loss after ending Block BTC mining chip deal

Crypto mining company Core Scientific (CORZ) booked a $41.9 million loss after terminating its Bitcoin mining chip purchase agreement with Jack Dorsey’s Block, The Block Pro reported. Core Scientific had previously paid Block at least $67.9 million in prepayments, and the remaining delivery obligations were canceled after the termination. Separately, a day before ending the Block contract, Core Scientific said it signed a 15-year, 529 MW lease agreement with AMD and expects the deal to generate more than $14 billion in contracted revenue.