Core Scientific, Inc./tx (CORZ) Form 10-Q — Nov 5, 2026
Core Scientific's Q3 2026 revenue nearly tripled to $232.9M from $81.1M a year ago, with colocation revenue jumping to $215.4M as the CoreWeave data center build-out scaled to 485MW billable. The company reported $1.18B of net income, but that was driven almost entirely by a $1.03B non-cash gain on warrant fair value changes, and the nine-month result is still a $324.4M net loss including a $266.5M mining impairment. The transformation is now essentially complete: colocation is 84% of nine-month revenue versus 14% a year ago, hosted mining ends by December 2026, and self-mining is winding down.
Key figures
- Eps
- Basic $3.42 / Diluted $0.47 (Q3 2026)
- Revenue
- 232866000
- Net Income
- 1178130000
- Total Debt
- 4302175000
- Revenue Yoy
- 187% (Q3 2026 $232.9M vs Q3 2025 $81.1M)
- Total Assets
- 5935714000
- Cash Position
- 803941000
- Shares Outstanding
- 322236200
- Billable mw
- 485
- Capex 9m 2026
- 1494979000
- Amd neocloud mw
- 530
- Q3 warrant fv gain
- 1034358000
- Leased mw coreweave
- 590
- Mining impairment 9m
- 266488000
- Senior secured notes
- 3300000000
- Convertible notes 2029
- 460000000
- Convertible notes 2031
- 625000000
- Adjusted ebitda 9m 2026
- 183600000
- Adjusted ebitda q3 2026
- 133600000
- Construction commitments
- 4400000000
- Bitcoin holdings fair value
- 2690000
- Coreweave pct of q3 revenue
- 93%
- Senior secured notes coupon
- 7.75% due 2031
- Colocation pct of 9m revenue
- 84%
AI analysis
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