Core Scientific shares moved lower after the Bitcoin miner and AI compute provider reported fourth-quarter revenue that missed Wall Street estimates. The company posted revenue of $79.8 million, down 16% year over year and below consensus expectations, as crypto market weakness weighed on mining income.
Crypto mining revenue fell sharply from the prior year, while net income was supported primarily by a non-cash fair value gain on digital asset holdings. Adjusted EBITDA remained negative, reflecting ongoing margin pressure from lower Bitcoin prices and elevated energy and infrastructure costs.
The results underscore broader challenges facing listed mining firms as they balance exposure to volatile crypto prices with investments in AI-related colocation services. Core Scientific said it continues expanding power capacity across key sites, positioning itself to diversify revenue streams beyond traditional mining operations.
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