Core Scientific Q3 revenue nearly triples on colocation growth
CORZ•CORZ•CORZ•CORZ•Core Scientific's Q3 revenue nearly tripled year over year, driven by colocation growth. Colocation revenue rose nearly 60% sequentially to $215.4 million, while net income swung to a profit mainly due to a non-cash gain from a warrant fair value change.
Core Scientific's Q3 revenue nearly tripled year over year as colocation revenue rose nearly 60% sequentially to $215.4 million, driven by continued delivery of billing megawatts. Adjusted EBITDA more than tripled sequentially, with margins expanding to 57%.
The company said it is nearing full delivery under its first colocation agreement, while construction under its second agreement is underway across five campuses. Q3 earnings per share were $0.47. Core Scientific provided no specific financial guidance for current or future periods in the press release.
