Core Scientific Inc. (NASDAQ:CORZ) reported first-quarter results after Wednesday’s closing bell, missing EPS estimates. Here’s a look at the details inside the report.
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Core Scientific Q1 Details
Core Scientific reported quarterly losses of 10 cents per share, which missed the consensus estimate for losses of seven cents, according to Benzinga Pro data.
Quarterly revenue came in at $115.24 million, which beat the Street estimate of $111.25 million and was up from $79.53 million in the same period last year.
Core Scientific reported the following first-quarter metrics:
- Colocation revenue was $77.5 million, up from $8.6 million in the first quarter of 2025, driven by incremental billable customer power capacity delivered to customers during the quarter.
- Digital asset self-mining revenue was $30.1 million, down from $67.2 million in the first quarter of 2025, driven by the 45% decrease in Bitcoin (CRYPTO: BTC) mined primarily due to the continued strategic shift to the colocation business and the 18% decrease in the average Bitcoin price.
- Capital expenditures were $389.2 million, $129.9 million of which were funded by CoreWeave, Inc. (NASDAQ:CRWV) pursuant to its existing colocation service agreements with the company.
“Core Scientific is differentiated by our ability to combine capital readiness with speed to delivery,” said CEO Adam Sullivan.
“We are investing ahead of contracts, advancing ready-for-service dates and moving development forward across multiple sites,” Sullivan added.
CORZ Stock Price: According to data from Benzinga Pro, Core Scientific stock was down 9.61% to $22.26 in Wednesday’s extended trading.
Photo: Shutterstock
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