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Core Scientific는 AI 사업이 전체 매출의 92%를 차지하고 있다고 밝혔으며, CEO는 첫 번째 코로케이션 계약이 '완전 인도를 눈앞에 두고 있다'고 말했습니다.

A 92% AI 매출 비중은 과거 비트코인 채굴 호스팅 업체가 얼마나 빠르게 AI 코로케이션 사업자로 전환했는지를 보여주며, 첫 계약의 전면 이행이 주목해야 할 핵심 이정표가 될 것이다.

업계 전문지Slicast · 2026년 11월 5일 14:42 UTC · 미국 · 출처: Stocktwits

중요도 70

Core Scientific Inc. (CORZ) announced its third-quarter results on Thursday. Its artificial intelligence colocation business accounted for about 92% of third-quarter revenue, the highest share colocation has ever represented. A year ago, colocation made up less than a fifth of sales, with Bitcoin (BTC) mining accounting for the rest.

Total revenue rose to $232.9 million in the quarter, from $81.1 million a year earlier and above the $193 million analysts had expected, according to Koyfin data. Colocation revenue, which involves hosting AI-related computing workloads, rose nearly 60% from the prior quarter to $215.4 million. The company said the increase reflected higher billing capacity for customers.

CORZ shares were down more than 6% in morning trade. On Stocktwits, retail sentiment around CORZ improved to "extremely bullish" from "bullish," while chatter about the stock increased to "high" from "normal" levels over the past day.

|---|---|---|---|

| Q1 2025 | $8.6 million | $79.5 million | 11% |

| Q2 2025 | $10.6 million | $78.6 million | 13% |

| Q3 2025 | $15.0 million | $81.1 million | 18% |

| Q4 2025 | $15.0 million | $79.8 million | 39% |

| Q1 2026 | $77.5 million | $115.2 million | 67% |

| Q2 2026 | $136.7 million | $164.2 million | 83% |

| Q3 2026 | $215.4 million | $232.9 million | 92% |

*Source: Revenue figures come from Core Scientific's quarterly earnings filings. Colocation share calculated by Stocktwits.*

**First Contract Nearly Complete**

Chief Executive Officer Adam Sullivan said the company is "nearing full delivery" under its first colocation agreement, while construction under its second agreement is underway at five campuses.

As of late September, Core Scientific was billing 485 megawatts of capacity, up from 395 megawatts at the end of June, the company said. That capacity equates to average annualized colocation revenue of more than $700 million.

The company spent $985.1 million on capital expenditures during the quarter, up from $797.5 million in the second quarter. It ended the quarter with $1.74 billion of liquidity and debt service reserves.

**Mining Business Keeps Shrinking**

The company's Bitcoin business continued to decline. Self-mining revenue fell to $12.3 million from $57.4 million, and hosted mining revenue decreased to $5.2 million from $8.7 million. Core Scientific said it is converting its remaining mining sites to colocation sites as quickly as possible.

**Profit Driven by Warrant Gain**

Core Scientific reported basic earnings of $3.42 per share, compared with a loss of $0.45 per share a year earlier. Analysts had expected a loss of $0.05 per share, according to Koyfin data.

The company said the profit was driven mainly by a $1.03 billion non-cash gain on its warrants. Net income was $1.18 billion, compared with a loss of $144 million a year earlier.

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