Core Scientific Q4 Revenue Drops to $79.8M While Colocation Soars 268%
Core Scientific posted Q4 revenue of $79.8 million, missing the $122.1 million forecast and recording a $0.42 per-share loss versus an expected $0.08. Colocation revenue climbed 268% to $31.3 million, while self-mining revenue fell to $42.2 million following a 57% drop in BTC mined.
1. Q4 2025 Financial Results
Core Scientific generated $79.8 million in revenue for Q4 2025, down from $94.9 million a year earlier and below the $122.1 million forecast. The company reported a $0.42 loss per share versus an expected $0.08 loss, achieved gross profit of $20.8 million, and posted negative non-GAAP EBITDA of $42.7 million with $533.4 million in liquidity.
2. Colocation Versus Self-Mining Performance
Colocation revenue surged 268% to $31.3 million from $8.5 million, while digital asset self-mining revenue declined to $42.2 million as BTC production dropped by 57%. This shift in revenue mix drove the rise in gross profit despite overall revenue shortfall.
3. Strategic Shift to Colocation Services
Management highlighted progress in scaling its colocation business, targeting a 1.5-gigawatt pipeline of leasable capacity to support AI and high-performance computing workloads. The firm plans to accelerate deployment timelines to position itself for sustainable growth in data center services.