secwatch.observer — SEC 8-K summary
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Issuer:     Core Scientific, Inc./tx (CORZ)
CIK:        0001839341
Form:       8-K
Filed at:   2025-05-07T23:59:59+00:00
Accession:  0001628280-25-023161
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1839341/000162828025023161/0001628280-25-023161-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1839341/000162828025023161/core-20250507.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-023161

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