Core Scientific shares slip as Q1 loss offsets revenue growth
Core Scientific reported $115.2 million in first-quarter revenue, up from $79.5 million a year earlier. Core Scientific revenue rose to $115.2 million, driven mainly by fast-growing colocation business demand.The miner posted a $347.2 million net loss due largely to non-cash impairment charges.Self-mining revenue fell sharply as Bitcoin output dropped and the firm shifted toward AI infrastructure. Gross profit also rose to $30.1 million from $8.2 million in the same period last year. The growth came mainly from colocation revenue, which reached $77.5 million. That was up from $8.6 million in Q1 2025 as the company delivered more billable power capacity to customers. The companys Bitcoin self-mining revenue moved in the opposite direction. It fell to $30.1 million from $67.2 million due to a 45% drop in Bitcoin mined and an 18% decline in the average Bitcoin price. Net loss weighs on stock Core Scientific posted a $347.2 million net loss in Q1, compared with net income of $576.3 million a year earlier. The loss included $266.5 million in non-cash impairment charges and a $30.8 million non-cash loss tied to warrants and contingent value rights. MarketBeat reported that Core Scientific posted an EPS loss of $1.06, missing analyst estimates, while revenue came in slightly below expectations