Bitcoin miner Core Scientific posts $580M Q1 profit but misses revenue estimates

Bitcoin miner Core Scientific posts 0M Q1 profit but misses revenue estimates

Core Scientific’s first quarter results saw it more than double its net income from a year ago, but its revenues missed analyst estimates.

Nasdaq-listed Bitcoin mining firm Core Scientific Inc. posted a net profit of $580 million with its first quarter results, but missed analyst revenue estimates after a drop in its mining profits.

Core Scientific’s Q1 2025 results, shared on May 7, saw it more than double its $210 million net income from the year-ago quarter, while its total revenue reached $79.5 million, missing Zacks analysts’ estimates by 8.11%, and falling from its $179.3 million in revenues for Q1 2024.

The firm’s primary source of revenue came from $67.2 million in self-mining revenue, $3.8 million in hosted mining revenue, and $8.6 million in colocation, formerly listed as high-performance computing (HPC) hosting.

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