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 Third Quarter 2026 Results

MIAMI, Florida, November 5, 2026 - Core Scientific, Inc . ( NASDAQ: CORZ ), a leader in digital infrastructure for high-density colocation services (“HDC”), today announced financial results for the third quarter ended September 30, 2026.

“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. With revenue growing and substantial contracted capacity still to deliver, we have built a strong foundation for our next phase of growth.”

Recent Business Developments

• Colocation revenue increased nearly 60% sequentially to $215.4 million in the third quarter of 2026, driven by continued delivery of billing megawatts.

• Billing for 485 MW of capacity as of September 30, 2026, representing over $700 million in average annualized colocation GAAP revenue.

• Net income increased to $1.2 billion, benefiting from a non-cash gain in the change in fair value of warrants. Adjusted EBITDA more than tripled sequentially to $133.6 million, with margins expanding to 57%, up from 25%.

Financial Summary and Operating Metrics (in millions, except billing megawatts)

(1) Net income (loss) for the quarters ended September 30, 2026 and June 30, 2026 were primarily driven by the change in fair value of warrants, reflecting changes in the Company’s stock price during the periods.

(2) CapEx includes purchases of property, plant and equipment and acquisitions of land and development rights.

(3) Liquidity and DSRA is comprised of cash and cash equivalents, digital assets, revolver availability, and all restricted cash including the debt service reserve accounts. Restricted cash as of September 30, 2026 and June 30, 2026 included funds held in escrow in connection with certain utility and development costs. As of June 30, 2026, restricted cash also included funds held in escrow for the now closed Polaris DS LLC acquisition. There was no restricted cash as of September 30, 2025.

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

Conference Call and Earnings Presentation

In conjunction with this release, Core Scientific, Inc. will host a conference call today, Thursday, November 5, 2026, at 8:30 am Eastern Time that will be webcast live. Adam Sullivan, Chief Executive Officer, Jim Nygaard, Chief Financial Officer, and Jon Charbonneau, Senior 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=9RapppQ4

A supplementary investor presentation for the third 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.