Core Scientific's net profit for the first quarter was US$580 million, mainly due to the adjustment of warrant valuation."
According to online reports, the net profit of Core Scientific, a Nasdaq-listed bitcoin mining company, in Q1 in 2025 reached US$580.7 million, doubling year-on-year, mainly due to the non-cash gains of US$621.5 million due to market value adjusted warrants after bankruptcy and reorganization last year. Although revenue dropped sharply to $79.5 million year-on-year, the company is transforming and expanding its high-performance computing business and signed a large energy services agreement with CoreWeave, which is expected to generate $360 million in revenue next year.
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