Core Scientific, Inc./tx files 8-K: results of operations, Regulation FD disclosure

Item 2.02 Results of Operations and Financial Condition

Core Scientific Announces First Quarter Fiscal Year 2026 Results

Recent Developments

• Strengthened the capital structure through today’s closing of a $3.3 billion offering of 7.75% senior secured notes due 2031, supporting strategic data center development projects.

• Expanded the Company’s total gross power capacity pipeline to 4.5 GW, including planned 1.5 GW expansions at each of the Company’s Muskogee, Oklahoma and Pecos, Texas campuses.

• Closed on the acquisiton of land and power in Hunt County, Texas for approximately $233 million, which is expected to support ~430 MW of gross power capacity, with an approved ERCOT interconnection ramp schedule.

• Billing for 243 MW of capacity, representing approximately $350 million in average annualized colocation GAAP revenue.

AUSTIN, Texas, May 6, 2026 - Core Scientific, Inc . ( NASDAQ: CORZ ), a leader in digital infrastructure for high-density colocation services (“HDC”), today announced financial results for the first quarter of 2026.

“Core Scientific is differentiated by our ability to combine capital readiness with speed to delivery,” said Adam Sullivan, Chief Executive Officer of Core Scientific. “We are investing ahead of contracts, advancing ready-for-service dates and moving development forward across multiple sites. That execution capability is accelerating customer discussions and reinforcing the value of our high-density compute infrastructure platform.”

First Quarter 2026 Financial Results

• Total revenue was $115.2 million compared to $79.5 million in the first quarter of 2025.

◦ Colocation revenue was $77.5 million, up from $8.6 million in the first quarter of 2025, driven by incremental billable customer power capacity delivered to our customer during the quarter.

◦ Digital asset self-mining revenue was $30.1 million, down from $67.2 million in the first quarter of 2025, driven by the 45% decrease in bitcoin mined primarily due to the continued strategic shift to our colocation business and the 18% decrease in the average bitcoin price.

• Gross profit was $30.1 million compared to $8.2 million in the same period last year.

• Net loss was $347.2 million, compared to net income of $576.3 million in the first quarter of 2025. The net loss included $266.5 million of non-cash impairment charges, and a $30.8 million non-cash loss from changes in the fair value of warrants and contingent value rights.

• Non-GAAP Adjusted EBITDA was $4.4 million, compared to $(6.1) million for the prior year period, driven by a $35.7 million increase in total revenue and a $4.1 million favorable change in fair value of digital assets, partially offset by a $17.5 million increase in cash cost of revenue and a $11.9 million increase in adjusted operating expenses.

• Capital expenditures were $389.2 million, $129.9 million of which were funded by CoreWeave, Inc. pursuant to its existing colocation service agreements with the Company.

-more- Core Scientific, Inc. First Quarter 2026 Earnings Release - 2

• Liquidity was $1.04 billion as of March 31, 2026, consisting of $1.01 billion of cash and cash equivalents and $37.3 million of bitcoin.

Conference Call and Earnings Presentation

In conjunction with this release, Core Scientific, Inc. will host a conference call today, Wednesday, May 6, 2026, at 4:30 pm Eastern Time that will be webcast live. Adam Sullivan, Chief Executive Officer, Matt Brown, Chief Operating Officer, Jim Nygaard, Chief Financial Officer and Jon Charbonneau,Vice President, Investor Relations will host the call.

Investors with Internet access may listen to the live audio webcast via the Investor Relations page of the Core Scientific, Inc. website, http://investors.corescientific.com or by using the following link https://event.choruscall.com/mediaframe/webcast.html?webcastid=VZaoQ5yv .

A supplementary investor presentation for the first quarter 2026 may be accessed at https://investors.corescientific.com/news-events/presentations.

Audio Replay

An audio replay of the event will be archived on the Investor Relations section of the Company's website at http://investors.corescientific.com.

Upcoming Investor Events Core Scientific will be attending the following investor events in May:

• TD Cowen 54th Annual Technology, Media & Telecom Conference, May 28, 2026; and

• B. Riley Annual Investor Conference, May 20, 2026

If applicable, live presentation webcasts and replay information will be available on the Company’s Investor Relations website.