Core Scientific craters after soft Q4 sales

Core Scientific is sinking in postmarket trading after reporting much lower-than-expected sales in the final three months of 2025 and informing investors of an accounting error in its previous results.

For Q4, the bitcoin miner turned data center company reported:

Revenues of $79.8 million (estimate: $115 million).
Adjusted net income of $216 million (estimate: -$47.5 million).

Core Scientific’s self-mining and high-performance computing hosting divisions posted far less in sales than anticipated.

The company also indicated that it had overstated the value of property, plant, and equipment, requiring a number of previous releases to be restated. However, these changes do not affect revenue, adjusted EBITDA, or net cash flows, management said.

Core Scientific shareholders rejected CoreWeave’s offer to purchase the company in Q4, which would have created a more vertically integrated neocloud provider.

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