Core Scientific achieved a net income of 580 million USD for Q1 2025, more than doubling last year’s figure. Nevertheless, it recorded a revenue of 79.5 million USD, which did not meet analysts’ expectations.
The decrease in mining profits can be traced back to the Bitcoin halving that took place on April 20, 2024. This event reduced mining rewards, influencing the company’s overall financial results.
To counterbalance revenue drops, Core Scientific is expanding into high-performance computing and has plans for a significant data center partnership. Investor confidence remained steady as stock prices rose slightly after the earnings announcement.
Leave a Reply