---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-023161"
form_type: "8-K"
ticker: "CORZ"
cik: "0001839341"
company_name: "Core Scientific, Inc./tx"
filed_at: "2025-05-07T23:59:59+00:00"
generated_at: "2026-05-22T08:56:44.380602+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-25-023161
- form_type: 8-K
- ticker: CORZ
- cik: 0001839341
- company_name: Core Scientific, Inc./tx
- filed_at: 2025-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1839341/000162828025023161/0001628280-25-023161-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1839341/000162828025023161/core-20250507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-023161
- JSON: https://secwatch.observer/filing/0001628280-25-023161.json
- Plain text: https://secwatch.observer/filing/0001628280-25-023161.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.