Core Scientific Q3 Revenue Rises to $232.9 Million: Colocation Revenue Up Nearly 60% Sequentially, Billing Capacity Reaches 485 MW
Core Scientific, Inc. (Nasdaq: CORZ), the Miami, Florida-based data center operator, on November 5 announced financial results for the third quarter ended September 30, 2026. Total revenue was $232.9 million, up from $81.1 million a year earlier, driven by high-density colocation revenue of $215.4 million, which rose nearly 60% sequentially.
Billing capacity reached 485 MW as of September 30, up from 395 MW in the second quarter, representing more than $700 million in average annualized colocation revenue. Gross profit was $123.3 million, versus $3.9 million a year earlier. Adjusted EBITDA more than tripled sequentially to $133.6 million, with margins expanding to 57% from 25%. Net income was $1,178.1 million, benefiting mainly from a non-cash gain in the change in fair value of warrants, compared with a net loss of $1,155.3 million in the second quarter. Capital expenditures were $985.1 million, and liquidity and debt-service reserve funds totaled $1,744.2 million at quarter-end.
"Our execution at scale is translating into results, with a significant sequential increase in GAAP colocation revenue," said Adam Sullivan, Chief Executive Officer of Core Scientific. "We are nearing full delivery under our first colocation agreement while construction under our second is underway across five campuses."
Core Scientific designs, builds and operates large-scale, purpose-built data centers for high-density colocation services serving AI-related workloads, with facilities in Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma and Texas. The company is repurposing its remaining mining facilities to support its colocation business. (Source: Core Scientific)
Source: Core Scientific
Published by GSM · USA (original Chinese edition)
Photo: 图：数据中心机房内部（示意）。BalticServers.com 摄，CC BY-SA 3.0，经 Wikimedia Commons。 / Photo: Inside a data center (illustrative). By BalticServers.com, CC BY-SA 3.0, via Wikimedia Commons.
