Core Scientific Reports 187% Year-on-Year Revenue Growth in Q3, Self-Mining Revenue Drops 79%

Core Scientific has announced its third-quarter financial results, reporting revenue of approximately $233 million, a year-on-year increase of 187%; earnings per share of $0.47; and a net profit of approximately $1.178 billion, primarily driven by non-cash gains from changes in the fair value of warrants. Adjusted EBITDA increased sequentially to $133.6 million, with a profit margin rising from 25% to 57%. Hosting revenue reached $215.4 million, nearly a 60% increase quarter-on-quarter, accounting for about 92.5% of total revenue. Self-mining revenue decreased by approximately 79% year-on-year to $12.26 million. In the first three quarters of this year, the sale of self-mined digital assets generated approximately $287 million in cash, while the value of digital asset holdings decreased to about $2.69 million.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.