CORZCore Scientific

Year Ended December 31, 2025 2024 20231 20221 Adjusted EBITDA Net loss $ (1,315,005) $ (246,487) $ (2,146,318) $(288,616) $(1,437,874) Adjustments: Interest (income) expense, net (3,277) 37,070 86,238 96,826 Income tax expense (benefit) 583 859 683 (17,091) Depreciation and amortization 68,841 113,205 96,003 225,259 Stock-based compensation expense 98,236 51,924 58,892 182,894 Unrealized fair value adjustment on energy derivatives — (2,262) 2,262 — Impairment Loss on disposal of goodwill property, plant and other intangibles — — 1,059,265 equipment 9,680 4,210 Impairment of property, plant and equipment 11,359 122,869 Site conversion demolition costs 4,442 — — 590,673 Losses on exchange or disposal of property, plant and equipment 4,210 1,956 28,025 Gain on sale of intangible assets — — (5,904) Loss (gain) on debt extinguishment 1,933 487 (20,065) 287 Cash restructuring charges — — 1,320 Fair value adjustment on acquired vendor liability — — 9,498 Equity line of credit expenses — — 1,668 HPC organizational Colocation startup costs — 4,611 — Merger Agreement related costs 21,588 — Post-emergence bankruptcy advisory costs 1,784 4,822 — — Change in fair value of convertible notes — — 186,853 Fair value adjustment on derivative warrant liabilities — — (37,937) Reorganization items, net — (111,439) 191,122 (197,405) Change in fair value of warrants and contingent value rights 33,059 1,369,157 — — Loss on legal settlements 10,690 2,070 Other non-operating expenses expense (income), net (325) (2,530) 5,232 39 (2,395) Other — 123 1,474 5,276 Adjusted EBITDA $ 157,437 $ 169,548 $ (11,579) $(29,659) $157,437

To the extent that our activities would cause us to be deemed a “money transmitter” (“MT”) or equivalent designation, under state law in any state in which we may operate, we may be required to seek a license or otherwise register with a state regulator and comply with state regulations that may include the implementation of anti-money laundering programs, maintenance of certain records and other operational requirements. For example, in August 2015, the New York State Department of Financial Services enacted the first U.S. regulatory framework for licensing participants in “virtual currency business activity.” The regulations, known as the “BitLicense,” are intended to focus on consumer protection and regulate the conduct of businesses that are involved in “virtual currencies” in New York or with New York customers and prohibit any person or entity involved in such activity to conduct activities without a license.

For RSU awards with only service conditions, the estimated fair value of the equity awards is recognized as expense on a straight-line basis, less actual forfeitures as they occur, over the requisite service period for the entire award, which is generally the vesting period. For RSU awards with service and market conditions, the compensation expense is recognized for each separately vesting portion of the award, or tranche, as if it were a separate award with its own vesting and exercise conditions (i.e., on an accelerated attribution basis). The estimated fair value of each tranche is recognized as expense on a straight-line basis, less actual forfeitures as they occur, over the requisite service for the tranche. The requisite service period of each tranche is the greater of the

On December 7, 2023, the United States Bankruptcy Court for the Southern District of Texas in Houston, sustained the Company’s objection to the filed class proof of claim without prejudice to re-file a proof of claim on an individual basis by December 20, 2023; and denied plaintiff’s Motion for Class Treatment under Fed. R. Bankr. P. 7023. No individual proof of claim was filed by any of the class representatives of the purported class action by December 20, 2023, and a separately filed objection to confirmation of Debtors’ Fourth Amended Chapter 11 Plan and Disclosure Statement was overruled by the Bankruptcy Court on January 16, 2024. On January 29, 2024, plaintiff filed a notice of appeal of the order confirming the Company’s Plan of Reorganization.