Yes

>>Core Scientific’s Q3 2025 revenue dropped to $81.1 million as it redirected its focus away from Bitcoin mining.

Core Scientific’s Q3 2025 revenue dropped to $81.1 million as it redirected its focus away from Bitcoin mining.

crypthub

6 days ago

Revenue Decline and Shift

Core Scientific’s fiscal Q3 2025 revenue fell to $81.1 million from $95.4 million a year earlier. Digital‑asset mining revenue dropped to $57.4 million as Bitcoin output slipped 55%. Hosted mining fell sharply to $8.7 million, reflecting a strategic move toward high‑density colocation (HDC). An 88% rise in Bitcoin price partially offset the revenue loss.

High‑Density Colocation Growth

HDC revenue rose to $15 million from $10.3 million, showing early traction in the AI‑focused pivot. The company plans to convert most remaining mining sites to AI workloads. Capital expenditures of $244.5 million were largely funded by CoreWeave under existing agreements. Liquidity stands at $694.8 million, including $241.4 million in Bitcoin.

Financial Outlook

Gross profit turned positive at $3.9 million, while net loss narrowed to $146.7 million from $455.3 million. Adjusted EBITDA fell to a negative $2.4 million, weighed down by higher operating costs. Lower non‑cash fair‑value adjustments contributed to the improved loss profile.

Merger Uncertainty

CoreWeave’s $9 billion all‑stock offer to acquire Core Scientific faces shareholder opposition. Proxy advisers and major investors such as Gullane Capital and Two Seas Capital recommend voting against the deal. The final decision will be made at the October 30 shareholder meeting.

Core Scientific’s Q3 2025 revenue dropped to $81.1 million as it redirected its focus away from Bitcoin mining.

Revenue Decline and Shift

High‑Density Colocation Growth

Financial Outlook

Merger Uncertainty

Core Scientific’s Q3 2025 revenue dropped to $81.1 million as it redirected its focus away from Bitcoin mining.