Bitcoin mining company Core Scientific reported total revenue of $115 million in Q1, with a net loss of $347 million.

According to Odaily, Core Scientific's official financial report shows that the Bitcoin mining company achieved total revenue of $115 million in the first quarter of 2026, up from $79.5 million in the same period last year. Gross profit stood at $30.1 million. Hosting business revenue rose from $8.6 million a year ago to $77.5 million, while proprietary mining revenue declined to $30.1 million. Despite the revenue growth, the company still reported a net loss of $347 million this quarter, compared to a net profit of $576 million in the same period last year.

The loss was primarily due to a $266 million non-cash impairment loss, as well as a $30.8 million non-cash loss related to changes in the fair value of warrants and contingent value rights. In addition, Core Scientific announced the acquisition of Bitcoin mining company Polaris DS LLC for $421 million and expanded its total planned power capacity to 4.5 GW. Influenced by the financial report, the company's share price fell 7% in after-hours trading on one exchange and dropped 6.25% in pre-market trading on Thursday.