Core Scientific posts $232.9M in Q3 revenue as AI pivot gains traction

U.S. Bitcoin miner Core Scientific (CORZ), which emerged from bankruptcy protection in early 2024, generated $232.9 million in third-quarter revenue as it continues shifting into AI and HPC, or high-performance computing, data center leasing. According to a company announcement on Nov. 5 local time, total third-quarter revenue jumped 41.8% from $164.2 million in the previous quarter. The company said its high-density colocation business drove the revenue increase. After colocation revenue in the second quarter reached $136 million, more than six times its self-mining revenue of $21.5 million, leasing revenue tied to AI power supply again led performance this quarter.