Core Scientific's first-quarter net profit was $580 million, primarily due to warrants valuation adjustments
2025-05-08 00:11:22
Nasdaq-listed bitcoin miner Core Scientific's Q1 2025 net profit reached $580.70 million, doubling year-on-year, mainly due to a non-cash gain of $621.50 million from mark-to-market warrants after the bankruptcy reorganization last year. Despite a sharp drop in revenue to $79.50 million year-on-year, the company is transforming and expanding its high-performance computing business and signing a large-value energy services agreement with CoreWeave, which is expected to bring in $360 million in revenue next year.
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