Core Scientific Q4 rev falls on lower bitcoin mining revenue

Core Scientific

02/03/2026 21:21

Overview

Digital infrastructure firm's Q4 revenue fell yr/yr due to lower bitcoin mining revenue

Net income for Q4 improved due to a non-cash fair value gain

Company restated previous financial results due to accounting errors

Outlook

Core Scientific plans to expand power capacity by ~430 MW in Hunt County, Texas

Company aims to repurpose facilities for AI-related workloads and colocation services

Core Scientific did not provide specific financial guidance for future quarters in press release

Result Drivers

COLOCATION EXPANSION - Increased colocation revenue driven by expansion of colocation operations since prior year

POWER CAPACITY INCREASE - Expanded power capacity by ~300 MW at existing locations in Dalton, Georgia and Pecos, Texas

STRATEGIC SHIFT - Decline in digital asset mining revenue due to strategic shift to high-density colocation business

Company press release: ID:nBw7MMYZDa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Net Income
$216 mln
Q4 Adjusted EBITDA
-$42.70 mln
Q4 Gross Profit
$20.80 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

Wall Street's median 12-month price target for Core Scientific Inc is $25.50, about 50.3% above its February 27 closing price of $16.97

The stock recently traded at 222 times the next 12-month earnings vs. a P/E of 103 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)