Core Scientifc - CW27 | 8-K: FY2025 Q2 Revenue: USD 78.63 M

Revenue: As of FY2025 Q2, the actual value is USD 78.63 M.

EPS: As of FY2025 Q2, the actual value is USD -0.04.

Segment Revenue

• Total Revenue: $78.6 million, down from $141.1 million in the second quarter of 2024.
• Digital Asset Self-Mining Revenue: $62.4 million, a decrease from $110.7 million in the prior-year period, primarily due to a 62% decrease in bitcoin mined, partially offset by a 50% increase in the average bitcoin price.
• Digital Asset Hosted Mining Revenue: $5.6 million, down from $24.8 million, driven by a strategic shift to colocation business.
• Colocation Revenue: $10.6 million, up from $5.5 million, due to expansion into Denton, Texas.

Operational Metrics

• Gross Profit: $5.0 million, compared to $38.8 million in the same period last year.
• Net Loss: - $936.8 million, compared to - $804.9 million in the prior-year period, primarily due to non-cash fair value adjustments related to warrants and contingent value rights.
• Adjusted EBITDA: $21.5 million, down from $46.0 million for the prior year period.

Cash Flow

• Liquidity Position: $754.1 million, including $581.3 million of cash and cash equivalents and $172.8 million of digital assets at the end of the second quarter of 2025.

Unique Metrics

• Capital Expenditures: $121.3 million, with $90.3 million funded by CoreWeave under contractual agreements, and $31.0 million spent on new site development at non-CoreWeave locations.

Outlook / Guidance

• Core Scientific is in the process of being acquired by CoreWeave in an all-stock transaction, subject to stockholder and regulatory approvals. Each share of Core Scientific’s common stock will be converted into CoreWeave Class A common stock at an exchange ratio of 0.1235.