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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% | - |
| 2024 | $511M | $-1.3B | $-1.4B | $-52M | 152.5% | 1.6% | - |
| 2023 | $502M | $-63M | $-246M | $48M | 41.3% | -21.5% | - |
| 2022 | $640M | $-1.8B | $-2.1B | $-396M | 524.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total 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 |
| Operating Income | -244.57 | 15.35 | -12.23 | -224.55 |
| EBITDA | -1,840.49 | -63.12 | -1,279.82 | -144.37 |
| EBIT | -2,066.58 | -159.57 | -1,399.94 | -224.55 |
| Pretax Income | -2,163.41 | -245.80 | -1,437.02 | -288.03 |
| Tax Provision | -17.09 | 0.68 | 0.86 | 0.58 |
| 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 |
| Total Expenses | 884.89 | 487.05 | 522.90 | 543.57 |
| Interest Expense | 96.83 | 86.24 | 37.07 | 0 |
| Interest Income | 0 | 0 | 0 | 3.28 |
| Research And Development | 26.96 | 7.18 | 11.83 | 0 |
| Selling General And Administration | 226.01 | 100.93 | 120.42 | 182.60 |
| Normalized EBITDA | -210.56 | 114.32 | 108.22 | -77.65 |
| Normalized Income | -529.27 | -106.31 | -341.32 | -235.91 |
| Basic EPS | -6.30 | -0.65 | -4.39 | -0.88 |
| Diluted EPS | -6.30 | -0.65 | -4.39 | -0.88 |
| Tax Effect Of Unusual Items | -12.88 | -37.26 | -291.49 | -14.01 |
| Tax Rate For Calcs | 0.01 | 0.21 | 0.21 | 0.21 |
| 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 |
| Net Income From Continuing Operation Net Minority Interest | -2,146.32 | -246.49 | -1,437.87 | -288.62 |
| Reconciled Depreciation | 226.09 | 96.44 | 120.12 | 80.18 |
| Reconciled Cost Of Revenue | 631.91 | 378.94 | 389.60 | 281.12 |
| Net Interest Income | -96.83 | -86.24 | -37.07 | 3.28 |
| Net Income From Continuing And Discontinued Operation | -2,146.32 | -246.49 | -1,437.87 | -288.62 |
| Total Operating Income As Reported | -2,109.55 | 8.96 | -142.06 | 0 |
| Diluted Average Shares | 340.65 | 379.86 | 255.83 | 318.07 |
| Basic Average Shares | 340.65 | 379.86 | 255.83 | 318.07 |
| Diluted NI Availto Com Stockholders | -2,146.32 | -246.49 | -1,437.87 | -288.62 |
| Otherunder Preferred Stock Dividend | 0 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -2,146.32 | -246.49 | -1,437.87 | -288.62 |
| Net Income Continuous Operations | -2,146.32 | -246.49 | -1,437.87 | -288.62 |
| Other Income Expense | -1,822.01 | -174.91 | -1,387.72 | -66.76 |
| Other Non Operating Income Expenses | -192.09 | 2.53 | 0.33 | -0.04 |
| Special Income Charges | -1,712.16 | -177.42 | -16.13 | -33.66 |
| Gain On Sale Of Ppe | -28.02 | -1.96 | -4.21 | -9.68 |
| Other Special Charges | 0.29 | -20.07 | 0.49 | 12.62 |
| Write Off | 231.31 | 4.41 | 0 | 0 |
| Impairment Of Capital Assets | 1,649.94 | 0 | 122.87 | 11.36 |
| Restructuring And Mergern Acquisition | -197.41 | 191.12 | -111.44 | 0 |
| Gain On Sale Of Security | 82.23 | -0.03 | -1,371.91 | -33.06 |
| Net Non Operating Interest Income Expense | -96.83 | -86.24 | -37.07 | 3.28 |
| Interest Expense Non Operating | 96.83 | 86.24 | 37.07 | 0 |
| Interest Income Non Operating | 0 | 0 | 0 | 3.28 |
| Other Operating Expenses | 0 | 0 | 1.05 | 79.85 |
| Other Taxes | 0 | 0 | 0 | 0 |
| Selling And Marketing Expense | 12.73 | 7.02 | 9.97 | 0 |
| General And Administrative Expense | 213.28 | 93.91 | 110.45 | 182.60 |
| Other Gand A | 213.28 | 93.91 | 110.45 | 182.60 |
| Operating Revenue | 640.31 | 502.40 | 510.67 | 319.02 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Core Scientific, Inc.this co. | CORZ | $6.2B | - | -6.38 | 30.0% | -65.36 |
| Clearwater Analytics Holdings, Inc. | CWAN | $7.2B | - | 3.48 | -1.9% | 91.05 |
| Silicon Laboratories Inc. | SLAB | $7.2B | - | 6.54 | -5.9% | -207.60 |
| Cipher Digital Inc. | CIFR | $6.9B | - | 8.51 | -98.4% | 38.15 |
| D-Wave Quantum Inc. | QBTS | $6.8B |
| - |
| 7.69 |
| -41.7% |
| -59.89 |
| Rigetti Computing, Inc. | RGTI | $5.3B | - | 9.75 | -39.6% | -64.12 |
| Belden Inc. | BDC | $5.0B | 21.54 | 3.93 | 18.8% | 13.62 |
| Remitly Global, Inc. | RELY | $4.6B | 70.61 | 5.31 | 7.8% | 46.80 |
| Commvault Systems, Inc. | CVLT | $4.4B | 64.04 | 581.49 | 23.4% | 37.72 |
| Peer Median | - | 64.04 | 7.11 | -3.9% | 25.67 | |