Watch Desk posted an update
Core Scientific’s colocation revenue rose to $215.4 million in the quarter, from $15 million a year earlier, while revenue from mining Bitcoin for itself fell to $12.3 million from $57.4 million. The figures, reported by Yahoo Finance in an account of TheStreet’s coverage, show the scale of the company’s shift towards renting data-centre space and power for AI workloads.
Why it mattersThe report says Core Scientific plans to repurpose its remaining mining facilities for colocation as circumstances allow. IREN is making a similar pivot, but its results have already been covered separately.
Discuss: Is this a durable change in what mining companies sell, or a bet that could look less clever if AI demand cools?
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