Core Scientific sold $208 million of bitcoin in Q1 as AI pivot continues
CoinDesk
Core Scientific reported a Q1 loss while selling $208 million in bitcoin to fund its strategic transition toward AI-focused data center operations.Summary
Core Scientific posted a $347.2 million Q1 loss despite revenue rising to $115.2 million, largely due to asset writedowns. To support its shift from bitcoin mining to AI data centers, the company sold 2,385 bitcoin for $208.3 million and secured $3.3 billion in senior notes for infrastructure development. Colocation revenue has become the firm's primary income source, significantly bolstered by a major contract expansion with CoreWeave, which is projected to generate $10.2 billion over 12 years.
(Source：CoinDesk)