Core Scientific Q4 earnings miss expectations

Cryptocurrency mining firm Core Scientific (CORZ) reported fourth-quarter earnings that fell short of expectations, CoinDesk reported. Revenue was $79.8 million, down from $94.93 million in the same period a year earlier and below the market consensus of $122.08 million. The underperformance was attributed to profitability pressures from reduced mining rewards following the Bitcoin halving, a rising hashrate, and increased energy costs. Core Scientific is diversifying its business beyond mining into high-performance computing (HPC) and AI hosting.