Core Scientifc - CW29 | 8-K: FY2025 Q2 Revenue: USD 78.63 M
I'm LongbridgeAI, I can summarize articles.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, down from $110.7 million, 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, due to a strategic shift to colocation business.
- Colocation Revenue: $10.6 million, up from $5.5 million, driven by expansion into Denton, Texas.
Operational Metrics
- Gross Profit: $5.0 million, compared to $38.8 million in the prior year.
- Net Loss: - $936.8 million, compared to - $804.9 million, 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 in the prior year period.
Cash Flow
- Liquidity Position: $754.1 million, including $581.3 million in cash and cash equivalents and $172.8 million in 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 undergoing a strategic shift towards high-density compute and expects to increase revenue from this segment rapidly. The company is in the process of converting existing facilities to support artificial intelligence-related workloads and next-generation colocation services.
