Core Scientific, Inc.

Core Scientific Announces Third Quarter 2026 Results

Core Scientific reported Q3 2026 total revenue of $232.9 million, up roughly 187% from $81.1 million a year ago, with colocation revenue up nearly 60% sequentially to $215.4 million. Adjusted EBITDA more than tripled sequentially to $133.6 million with margins expanding to 57% from 25%, and the company is billing 485 MW of capacity representing over $700 million in average annualized colocation revenue. The $1.18 billion GAAP net income (diluted EPS of $0.47) was driven by a non-cash gain on the change in fair value of warrants rather than operations. Liquidity and DSRA fell to $1.74 billion from $2.60 billion sequentially as capex hit $985 million for the quarter, and the company carries $4.3 billion of long-term debt against a stockholders' deficit of $1.09 billion.

•3d ago

The AI Boom's Real Bottleneck Isn't Chips Anymore. It's Power-Ready Land, and One Lease Just Proved What It's Worth

A paid advertisement highlights a $1.25 billion, 15-year lease secured by Host Digital for 43 MW of AI data center capacity, framing it as proof of value for power-ready sites. The text cites Cipher Mining (CIFR) as a peer pursuing a similar 'miner-to-AI' transition, validating the scarcity of energized infrastructure. Investors are cautioned that the release is sponsored content referencing CIFR solely for market context rather than as a primary subject.

•2mo ago

Core Scientific Secures $600 Million of Senior Secured Credit Facilities

Core Scientific entered into $600 million of committed senior secured credit facilities, consisting of a $100 million revolving credit facility and a $500 million letter of credit facility. The new financing structure is expected to release approximately $300 million of restricted cash, meaningfully improving the company's capital efficiency and financial flexibility. Borrowings under the revolver have a three-year maturity with interest rates set at Adjusted SOFR plus 1.75% or an alternate base rate plus 0.75%.

•2mo ago

Core Scientific Completes Acquisition of Polaris DS, Advancing Planned Muskogee Expansion to 1.5 GW of Gross Power

Core Scientific completed its acquisition of Polaris DS for approximately $444 million in cash, securing 440 MW of grid-connected power capacity currently in service. The transaction supports the company's plan to scale its Muskogee campus to approximately 1.5 GW of gross power and 1.0 GW of leasable power. Core Scientific remains on track to deliver the next 82 MW at Muskogee to its customer in the second half of 2027.

•2mo ago

Core Scientific Supports Governor Abbott’s Focus on Responsible Data Center Infrastructure in Texas

Core Scientific endorsed Texas Governor Greg Abbott’s push for transparency and accountability in data center development, stating it welcomes the audit process and guidance. The company emphasized that its four Texas facilities operate with grid resilience in mind, covering their own infrastructure costs and employing low-water consumption cooling technology. CEO Adam Sullivan noted that continued coordination with state leaders and utilities is essential to maintaining reliable power while expanding capacity for AI and advanced computing.

•2mo ago

Core Scientific Appoints Mark Adams to Board of Directors

Core Scientific appointed Mark W. Adams to its Board of Directors, effective immediately, expanding the board to seven members. Mr. Adams brings over three decades of technology leadership experience, most recently serving as CEO of Penguin Solutions and President of Micron Technology. He currently serves on the boards of Seagate Technology and Cadence Design Systems, adding deep expertise in AI infrastructure and semiconductors.

•3mo ago

Core Scientific Announces Second Quarter 2026 Results

Core Scientific reported Q2 2026 revenue of $164.2 million, more than doubling year-over-year, while Adjusted EBITDA swung to a positive $41.1 million driven by strong growth in high-density colocation. The company announced a strategic partnership with AMD with the potential to support up to 2.5 GW of leasable capacity, anchored by 15-year agreements for roughly 530 MW representing over $14 billion in potential contracted revenue. Despite the operational momentum, the company posted a GAAP net loss of $1.16 billion for the quarter, primarily due to non-cash changes in the fair value of warrants reflecting stock price appreciation.

•3mo ago

Core Scientific and AMD Announce Infrastructure Partnership

AMD announced a strategic partnership with Core Scientific to secure up to 2.5 gigawatts of data center capacity, starting with more than 500 megawatts in 2027. The collaboration focuses on physical infrastructure design to support the deployment of AMD Instinct GPUs, EPYC CPUs, and ROCm software for AI workloads. As part of the agreement, AMD will receive market-priced warrants to purchase Core Scientific common stock.

•3mo ago

Core Scientific Appoints Steve Smith to Board of Directors

Core Scientific appointed Steve Smith, former CEO of Equinix and current CEO of Zayo Group, to its Board of Directors effective immediately. Smith brings over 35 years of experience in data centers and digital infrastructure, having scaled Equinix’s revenue from $400 million to over $4 billion during his tenure. CEO Adam Sullivan highlighted Smith’s value in supporting Core Scientific’s large-scale AI infrastructure build-out and power infrastructure strategy.

•5mo ago

Core Scientific Announces First Quarter Fiscal Year 2026 Results

Core Scientific reported Q1 2026 total revenue of $115.2 million, up from $79.5 million in the prior year, driven by a significant increase in colocation revenue to $77.5 million. The company achieved positive Non-GAAP Adjusted EBITDA of $4.4 million compared to a loss last year, and maintained strong liquidity of $1.04 billion despite a net loss driven by non-cash impairments. To fund its 4.5 GW power capacity pipeline, the company closed a $3.3 billion offering of 7.75% senior secured notes and acquired land and power in Texas for $233 million.

•6mo ago

Core Scientific Plans Expansion to 1.5 Gigawatts of Gross Power at Muskogee, Oklahoma Campus

Core Scientific announced a plan to scale its Muskogee, Oklahoma campus to 1.5 GW of gross power, combining acquisitions with new development. The company has agreed to acquire Polaris DS LLC, which holds 440 MW of contracted power, to accelerate capacity delivery, with the deal expected to close in Q3 2026 using existing liquidity. Construction has also begun on a new 82.5 MW building scheduled for Q4 2027 delivery, while the existing 70 MW facility designed for Nvidia GB300 platforms remains on track for Q2 2026.

•6mo ago