Core Scientific Q4 Adjusted Loss of $0.29, Colocation Revenue Up to $31.3M
Core Scientific posted a Q4 adjusted loss of $0.29 per share on $79.8 million in revenue, missing expectations of $0.18 loss and $105.7 million in sales. Colocation revenue surged to $31.3 million, while digital asset self-mining revenue plunged 57% to $42.2 million.
1. Q4 Financial Results
Core Scientific reported a Q4 adjusted net loss of $0.29 per share on $79.8 million in revenue, missing analyst targets of an $0.18 loss and $105.7 million in sales. Quarterly sales fell 16% year-over-year, reflecting ongoing pressure on Bitcoin mining margins.
2. Revenue Breakdown
Digital asset self-mining revenue declined 57% to $42.2 million due to lower Bitcoin production, partially offset by a 20% rise in the average Bitcoin price. Hosted mining revenue totaled $6.3 million, while colocation services generated $31.3 million, up from $8.5 million a year ago.
3. CoreWeave Partnership Progress
The CoreWeave colocation partnership is now over 50% complete, with 350MW energized and nearly 200MW billing toward a 590MW capacity under a 12-year, $10+ billion agreement. Management expects to fulfil the remaining capacity by early 2027 as it expands power pipelines and accelerates site energization.
4. Analyst Outlook
Analysts maintain bullish views on the firm’s colocation growth despite lower Bitcoin mining values, with price targets around $25. Investors are advised to monitor further customer announcements, the pace of megawatt energization, and AI infrastructure deployments to gauge future revenue streams.