Earnings ·
Core Scientific reports Q3 colocation revenue up nearly 60% to $215.4 million
CORZCore Scientific, Inc.
Core Scientific announced third-quarter 2026 financial results, reporting colocation revenue of $215.4 million, a near 60% sequential increase driven by the delivery of billing megawatts. The company billed for 485 MW of capacity as of September 30, representing over $700 million in average annualized GAAP revenue. Net income reached $1.2 billion, primarily due to a non-cash gain from the change in fair value of warrants, while adjusted EBITDA more than tripled sequentially to $133.6 million with margins expanding to 57%. The company is nearing full delivery under its first colocation agreement and has construction underway across five campuses for its second agreement.