Core Scientific Inc ( (CORZ) ) has released its Q3 earnings. Here is a breakdown of the information Core Scientific Inc presented to its investors.
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Core Scientific, Inc., a leader in digital infrastructure for high-density colocation services and digital asset mining, operates dedicated facilities to provide digital infrastructure and software solutions to third-party customers.
In its fiscal third quarter of 2025, Core Scientific reported a total revenue of $81.1 million, a decline from the $95.4 million recorded in the same period last year. The company experienced a decrease in digital asset self-mining and hosted mining revenues, while high-density colocation revenue saw an increase.
Key financial highlights include a gross profit of $3.9 million, a significant improvement from the gross loss of $0.2 million in the previous year. The net loss for the quarter was $146.7 million, a reduction from the $455.3 million loss in the prior year, largely due to a smaller non-cash fair value adjustment. Adjusted EBITDA was negative at $2.4 million, impacted by increased operating expenses and decreased revenues.
The company is in the process of a strategic shift towards high-density colocation services, with capital expenditures reaching $244.5 million, primarily funded by CoreWeave, Inc. Liquidity remains strong at $694.8 million, comprising cash, cash equivalents, and bitcoin holdings.
Looking ahead, Core Scientific is focused on expanding its high-density colocation services and is in the midst of a potential merger with CoreWeave, which, if approved, will result in an all-stock transaction. The company aims to continue its transition towards supporting artificial intelligence workloads while maintaining its digital asset mining operations.