AI-extracted from the 10-Q filed 2026-07-28 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Core Scientific Q2 revenue surged 109% YoY to $164.2M, driven by colocation scaling to $136.7M (83% of total), but net loss widened to $1.2B primarily from $1.0B warrant fair value changes.
Biggest Revenue Drivers
Digital Asset Self-Mining$21.5M-65% YoY
Reduction in bitcoin mined (53% decline) and lower average bitcoin price (27% decline), reflecting strategic reallocation of power to colocation.
Digital Asset Hosted Mining$6.0M+6% YoY
Hosting services to third parties for digital asset mining.
Biggest Revenue Drivers
Total revenue: $164.2M+109% YoY
Digital Asset Self-Mining$21.5M-65% YoY
Reduction in bitcoin mined (53% decline) and lower average bitcoin price (27% decline), reflecting strategic reallocation of power to colocation.
Digital Asset Hosted Mining$6.0M+6% YoY
Hosting services to third parties for digital asset mining.
Largest Expense Items
Cost of colocation services$56.7M+402% YoY
Driven by incremental billable capacity; power fees passed through to customer without markup.
Cost of digital asset self-mining$33.7M-43% YoY
Reduced self-mining activity from power reallocation and lower depreciation expense.
Selling, general and administrative$49.4M+9% YoY
Supporting scaled operations and business development activities.
Margins: Consolidated gross margin improved to 43% in Q2 2026 from 6% in Q2 2025, driven by high-margin colocation revenue (59% gross margin) offsetting negative mining margins (-56%). Colocation segment demonstrating strong unit economics as billable capacity ramps.
Watch Items from the Filing
CoreWeave represents 83% of Q2 2026 revenue (77% YTD), creating severe single-customer concentration. Revenue dependent on CoreWeave's financial health and performance; assignment of certain agreements to special purpose vehicle (CW SPV) introduces additional counterparty complexity.
Material weakness in internal controls over property, plant and equipment accounting remains unremediated as of June 30, 2026. Prior-period financial statements restated; remediation plan in progress but not yet effective.
$266.5M impairment charge on mining assets in Q1 2026 due to bitcoin price declines, hashprice deterioration, and secondary market value collapses; demonstrates asset sensitivity to bitcoin market volatility.
Strong liquidity position: $1.8B in cash and digital assets as of June 30, 2026, plus $3.3B Senior Secured Notes issued May 2026 supporting planned $1B capital commitments; $395M debt service reserve restricted.
Subsequent AMD lease agreements (July 27, 2026) for 377 MW and Neocloud leases for 152 MW across 15-year terms; 30M AMD warrants at $23.47/share issued; potential 2.5 GW opportunity anchoring new customer diversification beyond CoreWeave.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Adams MarkReporting ownerGrant or award · Jul 30, 2026
Smith Stephen MReporting ownerGrant or award · May 26, 2026
Nygaard James P JrEVP, Chief Financial OfficerGrant or award · May 20, 2026
Rozov YadinReporting ownerGrant or award · Feb 4, 2026
Levy JordanReporting ownerGrant or award · Feb 4, 2026
Booth Jeffrey DavidReporting ownerGrant or award · Feb 4, 2026
About Core Scientific, Inc./tx (CORZ): stock profile, AI score and financials
Core Scientific, Inc./tx (CORZ) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores CORZ at 13.9/100 on a composite quality score built from its SEC filings, placing it at rank #2,832 of 2,925 stocks — the bottom half of the AI-ranked universe. Areas of concern include profitability (4.2) and free cash flow (4.5), which score below median versus the broader universe. Shareholder dilution risk is elevated at 6.0/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Core Scientific, Inc./tx reports quarterly revenue of $164.2M, net income of $-1.2B, an operating margin of -47.8%. Top institutional holders of CORZ by reported 13-F value include BlackRock, Situational Awareness, Jericho Capital Asset Management L.P., based on the most recent SEC filings. CORZ trades on the Nasdaq exchange and files with the SEC under CIK 1839341. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CORZ daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Core Scientific, Inc./tx directly from SEC EDGAR.