Core Scientific Q1 net income $580.7M on warrant adjustment; revenue down 56% to $79.5M

Core Scientific, Inc./tx

2025-Q1 EPS reported $1.25 revenue$79,525,000

Net income $580.7M vs $210.7M YoY, driven by $621.5M non-cash mark-to-market on warrants due to stock price decline.
Total revenue $79.5M, down 56% YoY from $179.3M, reflecting bitcoin halving and shift to colocation.
Operating loss $42.6M vs operating income $55.2M; Adjusted EBITDA $(6.1)M vs $88.0M.
On track to deliver 250MW billable capacity to CoreWeave by year-end; expects ~$360M annualized colocation revenue entering 2026.
Ended Q1 with $778.6M in cash, cash equivalents and digital assets; strong liquidity for organic/inorganic growth.

item 2.02 item 7.01 item 9.01

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