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.
Key figures
- Eps
- diluted $0.47; basic $3.42 (GAAP, includes non-cash warrant gain)
- Revenue
- 232900000
- Revenue Yoy
- 187%
- Capex
- 985100000
- Billing mw
- 485
- Net income
- 1178130000
- Gross profit
- 123300000
- Long term debt
- 4302175000
- Adjusted ebitda
- 133600000
- Colocation revenue
- 215400000
- Adjusted ebitda margin
- 57% (up from 25%)
- Colocation revenue seq growth
- ~60%
- Annualized colocation revenue run rate
- >$700 million
AI analysis
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