Core Scientific Q4 Revenue Declines, Bitcoin Mining Income Plummets, Accelerates Shift to Data Center Infrastructure

Odaily News According to reports, Bitcoin mining company Core Scientific released its Q4 2025 financial results, showing a mixed overall performance. Against the backdrop of the company accelerating its transition towards high-density data center colocation business, mining revenue saw a significant decline.

The financial report indicates that the company's total revenue for Q4 was $79.8 million, down from $94.9 million in the same period last year. Specifically, Bitcoin mining business revenue fell to $42.2 million, a notable decrease from $79.9 million in Q4 2024.

However, the company emphasized that its data center colocation service revenue surged to $31.3 million, up from $8.5 million in 2024. This growth is primarily attributed to the operational expansion of the colocation business. The colocation model refers to enterprises renting non-owned computing infrastructure for deployment.

Core Scientific CEO Adam Sullivan stated that the company's existing construction projects are now over halfway complete and it is expanding its colocation platform to a 1.5-gigawatt pipeline of leasable capacity. Leveraging its multi-regional footprint and proven execution capabilities, the company is accelerating the commissioning of multiple sites to drive long-term sustainable growth.

In terms of profitability, gross profit for Q4 rose to $20.8 million, higher than the $4.8 million in the same period of 2024; however, the company's adjusted EBITDA remained at -$42.7 million, indicating that profitability pressure still exists during the transition process.