What Core Scientific (CORZ) Said on Its Q3 Earnings Call
- On Thursday, Core Scientific reported third-quarter 2026 financial results, confirming its transition toward becoming a pure-play, high-density colocation provider focused on artificial intelligence infrastructure.
- Management aims to complete its Bitcoin mining exit by year-end 2026, having operated with nearly 50% fewer miners at the end of September compared to year-end 2025.
- GAAP colocation revenue grew nearly 60% sequentially to $215.4 million, while Adjusted EBITDA more than tripled to $134 million from $41 million in the second quarter.
- With over 1.1 GW contracted across CoreWeave and AMD, Core Scientific raised over $3 billion to fund AI data center growth and has invested all required equity capital for the initial 530 MW AMD build-out.
- Data-Center expansion faces fresh uncertainty following midterm election results, which brought scrutiny from opponents regarding electricity bills and local resource demands; management expressed confidence in existing operations and delivery timelines.
21 Articles
21 Articles
What Core Scientific (CORZ) Said on Its Q3 Earnings Call
Core Scientific (NASDAQ:CORZ) reported a sharp increase in third-quarter colocation revenue and adjusted earnings as it brought more data center capacity online for CoreWeave, and said it expects further revenue growth as the remaining capacity is delivered. On its Nov. 5 earnings call, the company
Core Scientific Plans to Exit Bitcoin Mining by Year-End as AI Growth Ramps Up
Core Scientific says it expects to fully leave Bitcoin mining by the end of 2026, positioning itself as a “pure-play” high-density colocation provider focused on artificial intelligence and high-performance computing. The shift marks the latest step in an industry-wide retooling of data-center capacity away from self-mining and toward AI infrastructure. Speaking during a Q3 earnings call, Chief Financial Officer Jim Nygaard said Core Scientific …
🚨 Core Scientific plans to exit Bitcoin mining by the end of 2026. 📊 Mining's share of the company's third-quarter revenue fell to 7.5%, while $BTC-related activities weakened. 🏭 The AI and colocation transformation that began in 2024 gained momentum after the losses in 2026. Read More: Core Scientific plans to exit Bitcoin mining by the end of 2026 The article "Core Scientific plans to exit Bitcoin mining by the end of 2026" first appeared o…
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