Loading…
Core Scientific, Inc. provides infrastructure for high-density colocation services and digital asset mining in the United States. It operates through three segments: Colocation, Digital Asset Self-Mining, and Digital Asset Hosted Mining. The company offers space, power, cooling, facilities operations, security, and other services to third-party customers to support workloads for machine learning and artificial intelligence; deployment, monitoring, troubleshooting, optimization, and maintenance of its customers' digital asset mining equipment; and electrical power, repair, and other infrastructure services for its customers to operate, maintain, and mine digital assets. It is also involved in the deployment and operation of its fleet of miners within its digital infrastructure as part of a pool of users that process transactions conducted on one or more blockchain networks to receive digital assets in the form of bitcoin. It also deploys and operates its fleet of miners within its digital infrastructure as part of a pool of users that process transactions conducted on one or more blockchain networks; and provides hosting services for digital asset mining customers, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment. Core Scientific, Inc. was founded in 2017 and is headquartered in Dover, Delaware.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $319M | $-144M | $-289M | $-461M | 30.0% | -37.5% | -79.9% |
| 2024 | $511M | $-1.3B | $-1.4B | $-52M | 152.5% | 1.6% | 483.3% |
| 2023 | $502M | $-63M | $-246M | $48M | 41.3% | -21.5% | -88.5% |
| 2022 | $640M | $-1.8B | $-2.1B | $-396M | 524.3% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 640.31 | 502.40 | 510.67 | 319.02 |
| Operating Revenue | - | 640.31 | 502.40 | 510.67 | 319.02 |
| Cost Of Revenue | - | 631.91 | 378.94 | 389.60 | 281.12 |
| Gross Profit | - | 8.40 | 123.46 | 121.07 | 37.90 |
| Operating Expense | - | 252.97 | 108.11 | 133.30 | 262.45 |
| Research And Development | 7.67 | 26.96 | 7.18 | 11.83 | - |
| Selling General And Administration | - | 226.01 | 100.93 | 120.42 | 182.60 |
| Total Expenses | - | 884.89 | 487.05 | 522.90 | 543.57 |
| Operating Income | - | -244.57 | 15.35 | -12.23 | -224.55 |
| Total Operating Income As Reported | 131.49 | -2,109.55 | 8.96 | -142.06 | - |
| EBITDA | - | -1,840.49 | -63.12 | -1,279.82 | -144.37 |
| Normalized EBITDA | - | -210.56 | 114.32 | 108.22 | -77.65 |
| EBIT | - | -2,066.58 | -159.57 | -1,399.94 | -224.55 |
| Interest Income | - | - | - | - | 3.28 |
| Interest Expense | 44.35 | 96.83 | 86.24 | 37.07 | - |
| Net Interest Income | - | -96.83 | -86.24 | -37.07 | 3.28 |
| Other Non Operating Income Expenses | - | -192.08 | 2.53 | 0.32 | -0.04 |
| Other Income Expense | - | -1,822.01 | -174.91 | -1,387.72 | -66.76 |
| Interest Income Non Operating | - | - | - | - | 3.28 |
| Interest Expense Non Operating | 44.35 | 96.83 | 86.24 | 37.07 | - |
| Net Non Operating Interest Income Expense | - | -96.83 | -86.24 | -37.07 | 3.28 |
| Pretax Income | - | -2,163.41 | -245.80 | -1,437.02 | -288.03 |
| Tax Provision | - | -17.09 | 0.68 | 0.86 | 0.58 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -12.88 | -37.26 | -291.49 | -14.01 |
| Net Income Continuous Operations | - | -2,146.32 | -246.49 | -1,437.87 | -288.62 |
| Net Income From Continuing And Discontinued Operation | - | -2,146.32 | -246.49 | -1,437.87 | -288.62 |
| Net Income From Continuing Operation Net Minority Interest | - | -2,146.32 | -246.49 | -1,437.87 | -288.62 |
| Net Income | - | -2,146.32 | -246.49 | -1,437.87 | -288.62 |
| Net Income Common Stockholders | - | -2,146.32 | -246.49 | -1,437.87 | -288.62 |
| Net Income Including Noncontrolling Interests | - | -2,146.32 | -246.49 | -1,437.87 | -288.62 |
| Normalized Income | - | -529.27 | -106.31 | -341.32 | -235.91 |
| Diluted NI Availto Com Stockholders | - | -2,146.32 | -246.49 | -1,437.87 | -288.62 |
| Basic Average Shares | - | 340.65 | 379.86 | 255.83 | 318.07 |
| Diluted Average Shares | - | 340.65 | 379.86 | 255.83 | 318.07 |
| Reconciled Depreciation | - | 226.09 | 96.44 | 120.12 | 80.18 |
| Reconciled Cost Of Revenue | - | 631.91 | 378.94 | 389.60 | 281.12 |
| Total Unusual Items | - | -1,629.92 | -177.44 | -1,388.04 | -66.72 |
| Total Unusual Items Excluding Goodwill | - | -1,629.92 | -177.44 | -1,388.04 | -66.72 |
| Special Income Charges | - | -1,712.16 | -177.42 | -16.13 | -33.66 |
| Other Special Charges | - | 0.29 | -20.07 | 0.49 | 12.62 |
| Write Off | - | 231.32 | 4.41 | 0 | 0 |
| Impairment Of Capital Assets | - | 1,649.94 | 0 | 122.87 | 11.36 |
| Restructuring And Mergern Acquisition | - | -197.40 | 191.12 | -111.44 | 0 |
| Gain On Sale Of Security | - | 82.24 | -0.02 | -1,371.91 | -33.06 |
| General And Administrative Expense | - | 213.28 | 93.91 | 110.45 | 182.60 |
| Other Gand A | - | 213.28 | 93.91 | 110.45 | 182.60 |
| Gain On Sale Of Ppe | - | -28.02 | -1.96 | -4.21 | -9.68 |
| Other Operating Expenses | - | - | - | 1.05 | 79.85 |
| Selling And Marketing Expense | 4.06 | 12.73 | 7.02 | 9.97 | - |
| Otherunder Preferred Stock Dividend | 0 | 0 | - | - | - |
| Other Taxes | 0.20 | - | - | - | - |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Core Scientific, Inc.this co. | CORZ | $8.9B | -30.74 | -9.22 | 30.0% | -67.35 |
| Cipher Digital Inc. | CIFR | $10.5B | - | 12.97 | -102.1% | - |
| D-Wave Quantum Inc. | QBTS | $10.2B | -28.84 | 12.01 | -41.7% | -27.66 |
| Rigetti Computing, Inc. | RGTI | $8.0B | -37.14 | 14.70 | -39.6% | -38.42 |
| Clearwater Analytics Holdings, Inc. | CWAN | $7.3B |
| - |
| - |
| - |
| - |
| - |
| - |
| -187.52 |
| 3.60 |
| -1.9% |
| 98.69 |
| Navitas Semiconductor Corporation | NVTS | $7.3B | -62.15 | 16.38 | -26.4% | -104.54 |
| Silicon Laboratories Inc. | SLAB | $7.2B | -111.28 | 6.60 | -5.9% | -365.09 |
| InterDigital, Inc. | IDCC | $6.7B | 16.59 | 6.13 | 36.9% | 11.07 |
| Novanta Inc. | NOVT | $5.9B | 109.22 | 4.47 | 4.1% | 32.48 |
| Peer Median | - | -37.14 | 9.31 | -16.1% | -27.66 | |