--- title: "Core Scientifc - CW27 | 10-Q: FY2026 Q1 Revenue: USD 115.24 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285439662.md" datetime: "2026-05-06T21:01:29.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285439662.md) - [en](https://longbridge.com/en/news/285439662.md) - [zh-HK](https://longbridge.com/zh-HK/news/285439662.md) generator: "portal-rs" --- # Core Scientifc - CW27 | 10-Q: FY2026 Q1 Revenue: USD 115.24 M Revenue: As of FY2026 Q1, the actual value is USD 115.24 M. EPS: As of FY2026 Q1, the actual value is USD -1.06. EBIT: As of FY2026 Q1, the actual value is USD -305.57 M. #### Segment Revenue - **Colocation Revenue:** Increased to $77,539 thousand in 2026 from $8,573 thousand in 2025, primarily due to incremental billable customer power capacity . - License fees were $59,195 thousand in 2026, up from $5,995 thousand in 2025 . - Power fees passed through to customers were $21,059 thousand in 2026, up from $2,586 thousand in 2025 . - **Digital Asset Self-Mining Revenue:** Decreased to $30,105 thousand in 2026 from $67,179 thousand in 2025, driven by lower bitcoin production and lower average realized bitcoin prices . - **Digital Asset Hosted Mining Revenue:** Increased to $7,600 thousand in 2026 from $3,773 thousand in 2025 . - **Total Revenue:** Increased to $115,244 thousand in 2026 from $79,525 thousand in 2025 . #### Operational Metrics - **Gross Profit:** - **Colocation Segment:** Gross profit increased significantly to $43,921 thousand in 2026 from $467 thousand in 2025, with gross margin improving to 57% from 5% . - **Digital Asset Self-Mining Segment:** Gross profit was - $17,084 thousand in 2026, down from $6,009 thousand in 2025, resulting in a gross margin of -57% compared to 9% . - **Digital Asset Hosted Mining Segment:** Gross profit increased to $3,269 thousand in 2026 from $1,737 thousand in 2025, with gross margin at 43% in 2026 compared to 46% in 2025 . - **Consolidated Gross Profit:** Increased to $30,106 thousand in 2026 from $8,213 thousand in 2025, with a consolidated gross margin of 26% compared to 10% . - **Operating Loss:** Widened to - $310,422 thousand in 2026 from - $47,038 thousand in 2025 . - **Net (Loss) Income:** Was - $347,188 thousand in 2026, a decrease from a net income of $576,251 thousand in 2025 . - **Adjusted EBITDA:** Improved to $4,352 thousand in 2026 from - $6,071 thousand in 2025 . - **Cost of Revenue:** - **Cost of Colocation Services:** Increased to $33,618 thousand in 2026 from $8,106 thousand in 2025, primarily due to incremental billable capacity . - **Cost of Digital Asset Self-Mining:** Decreased to $47,189 thousand in 2026 from $61,170 thousand in 2025, due to reduced self-mining activity and lower depreciation expense . - **Cost of Digital Asset Hosted Mining Services:** Increased to $4,331 thousand in 2026 from $2,036 thousand in 2025 . - **Impairment of Property, Plant and Equipment:** Core Scientific, Inc. recognized non-cash impairment charges of $266,488 thousand in 2026, compared to $0 thousand in 2025, primarily on mining-related assets due to declines in bitcoin prices and hashprice . - **Change in Fair Value of Warrants and Contingent Value Rights:** Shifted to a loss of $30,799 thousand in 2026 from a gain of - $621,464 thousand in 2025 . #### Cash Flow - **Net Cash Provided by (Used in) Operating Activities:** Increased to $249,877 thousand in 2026 from - $45,041 thousand in 2025, mainly due to customer prepayments and digital asset sales . - **Net Cash Used in Investing Activities:** Increased to - $386,652 thousand in 2026 from - $89,016 thousand in 2025, reflecting higher capital expenditures for colocation expansion . - **Net Cash Provided by (Used in) Financing Activities:** Was $971,382 thousand in 2026, compared to - $4,198 thousand in 2025, primarily due to net proceeds from the Term Loan Facility . #### Unique Metrics - **Data Center Capacity (as of March 31, 2026):** Gross Utility Power Capacity was 1,860 MW (up from 1,426 MW at December 31, 2025), Total Leasable Customer Power Capacity was 1,275 MW (up from 920 MW), Leased Customer Power Capacity was 590 MW (unchanged), Unleased Customer Power Capacity was 685 MW (up from 330 MW), and Billable Customer Power Capacity was 225 MW (up from 120 MW) . - **Digital Assets:** As of March 31, 2026, Core Scientific, Inc. held 547 bitcoin (down from 2,537 at December 31, 2025) with a fair value of $37,312 thousand (down from $222,000 thousand) . During Q1 2026, 2,385 bitcoin were sold for $208.3 million to fund capital expenditures and other cash requirements . #### Future Outlook and Strategy Core Scientific, Inc. is transitioning towards high-density colocation services, repurposing its mining facilities for AI and HPC workloads to achieve more stable revenue streams, with plans to convert its 11 facilities and acquire new sites . The Company aims to increase revenue from HDC services as capacity is delivered, while managing its self-mining fleet for power expense coverage and cash generation during this conversion . The Company expects its available liquidity, including cash, operating cash flows, and customer funding, to be sufficient for its cash requirements for at least the next twelve months . ### Related Stocks - [CORZW.US](https://longbridge.com/en/quote/CORZW.US.md) ## Related News & Research - [DocuSign Reports Q2 2027 Results: Full Earnings Call Transcript](https://longbridge.com/en/news/297965980.md) - [Mama's Creations Q2 2027 Earnings Preview](https://longbridge.com/en/news/297834110.md) - [Modular Medical announces fiscal 2027 annual shareholder meeting](https://longbridge.com/en/news/297960250.md) - [BRP (NASDAQ:DOO) Updates FY 2027 Earnings Guidance](https://longbridge.com/en/news/297968054.md) - [eGain (NASDAQ:EGAN) Updates FY 2027 Earnings Guidance](https://longbridge.com/en/news/297965731.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**