Core Scientific, Inc. reported second-quarter 2026 results with revenue rising to $164.2M, driven by a rapid shift into high-density colocation, while the company posted a wider net loss and more negative diluted EPS versus the prior-year quarter.
Financial Highlights
- Revenue was $164.2M for Q2 2026, compared with $78.6M in Q2 2025; YoY change 109%.
- Net income was a net loss of $1,155.3M for Q2 2026, compared with a net loss of $936.8M in Q2 2025 (widened loss YoY).
- Diluted earnings per share was $(3.32) for Q2 2026, compared with $(0.04) in Q2 2025 (more negative YoY).
Business Highlights
- Total revenue for the year-to-date through June 2026 rose to $279.4M from $158.2M, reflecting a rapid colocation ramp.
- Revenue mix shifted sharply: colocation represented 77% of revenue versus 12% in the prior year as the company transitions from mining to high-density colocation.
- CoreWeave remains the primary customer, with 590 MW leased and 395 MW billable, supporting scale and billings.
- Company-controlled utility capacity is approximately 2.1 GW (about 1.3 GW leasable); recent land acquisition in Hunt County (~430 MW) closed and the Polaris acquisition is pending.
- Operational progress includes 395 MW billable capacity, ongoing conversions, a plan to wind down hosted mining by December 2026, and new leases with AMD and Neocloud.
Original SEC Filing:
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