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Total Revenue
$164.2M
+42.5% QoQ · +108.9% YoY
Colocation/HDC Revenue
$136.7M
+76.4% QoQ · +1189.6% YoY
Gross Profit
$70.0M
+132.6% QoQ · +1300.0% YoY
Adjusted EBITDA
$41.1M
+361.8% QoQ · +91.2% YoY
Capital Expenditures
$797.5M
+104.9% QoQ · +557.5% YoY
Liquidity
$1,819.4M
+74.5% QoQ · +141.3% YoY
Colocation/HDC Revenue ($M)
Capital Expenditures ($M)
Why these KPIs
Core Scientific reports Total Revenue, Gross Profit and Adjusted EBITDA every quarter, and has consistently broken out its data-center-services revenue line item (labeled 'HPC hosting revenue' through 2024, renamed 'Colocation revenue' in 2025, now 'HDC revenue') as the company pivoted from bitcoin mining to AI high-density colocation. Capital Expenditures and Liquidity became standard bullets starting Q1 2025 (Liquidity) and Q2 2025 (CapEx) as the company began quantifying its colocation buildout; null for the two quarters before each was first disclosed.
| Period | Total Revenue | Colocation/HDC Revenue | Gross Profit | Adjusted EBITDA | Capital Expenditures | Liquidity |
|---|
| Q3 2024 | $95.4M | $10.3M | $-0.2M | $10.1M | — | — |
| Q4 2024 | $94.9M | $8.5M | $4.8M | $13.3M | — | — |
| Q1 2025 | $79.5M | $8.6M | $8.2M | $-6.1M | — | $778.6M |
| Q2 2025 | $78.6M | $10.6M | $5.0M | $21.5M | $121.3M | $754.1M |
| Q3 2025 | $81.1M | $15.0M | $3.9M | $-2.4M | $244.5M | $694.8M |
| Q4 2025 | $79.8M | $31.3M | $20.8M | $-42.7M | $279.2M | $533.4M |
| Q1 2026 | $115.2M | $77.5M | $30.1M | $8.9M | $389.2M | $1,042.5M |
| Q2 2026 | $164.2M | $136.7M | $70.0M | $41.1M | $797.5M | $1,819.4M |