Core Scientific, Inc. reported a significant decline in its financial performance for the fiscal year ending December 31, 2025, with total revenue decreasing to $319.0 million from $510.7 million in 2024. This decline was primarily attributed to reduced revenue from digital asset self-mining, which fell to $229.2 million from $408.7 million, and a decrease in digital asset hosted mining revenue, which dropped to $24.4 million from $77.6 million. The company’s operating loss widened to $245.6 million, compared to a loss of $142.1 million in the previous year, while the net loss for 2025 was reported at $288.6 million, reflecting significant non-cash items including a $33.1 million change in the fair value of warrants and contingent value rights.
In 2024, Core Scientific shifted its strategic focus from digital asset mining to high-density colocation services, entering into a long-term contract with CoreWeave, Inc. to provide 590 megawatts of leased customer power capacity. This transition is expected to stabilize revenue streams and reduce reliance on the volatile digital asset market. As of December 31, 2025, the company operated ten data centers across seven U.S. states, with a total gross utility power capacity of approximately 1.4 gigawatts. The company aims to convert its entire portfolio to high-density colocation infrastructure over the next three years, while continuing to mine digital assets to meet existing commitments.
Operationally, Core Scientific reported a total of 151,400 bitcoin miners deployed as of December 31, 2025, down from 171,100 the previous year. The decrease in the number of miners was primarily due to the strategic shift towards colocation services. The company’s employee headcount stood at 325 full-time employees as of the end of 2025. The colocation segment generated $65.4 million in revenue, a significant increase from $24.4 million in 2024, indicating a successful initial phase of the transition.
The company’s financial outlook remains cautious, with management emphasizing the need for additional capital to support its growth initiatives. Core Scientific has identified a material weakness in its internal control over financial reporting, which has led to restatements of previously issued financial statements. The company is actively working on remediation plans to address these issues. Looking ahead, Core Scientific anticipates that the majority of its revenue will increasingly come from high-density colocation services as it continues to expand its customer base and infrastructure capabilities.
About Core Scientific, Inc./tx
Core Scientific, Inc. designs, builds, and operates digital infrastructure for high-performance computing, focusing on cryptocurrency mining and third-party HPC colocation services. Its core activities include bitcoin mining and providing scalable data center solutions for AI, machine learning, and cloud computing workloads. Serving primarily large enterprise and hyperscale clients, the company leverages energy-efficient technologies and extensive infrastructure to deliver secure, high-capacity hosting and mining operations.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.