Core Scientific Inc.
Core Scientific Restates Prior Financial Statements Due to Accounting Errors
Summary
Core Scientific, Inc. announced the restatement of its previously issued consolidated financial statements for the fiscal year ended December 31, 2024, and the interim periods within fiscal 2025, due to accounting errors in the capitalization of assets committed to demolition. The company also reported its fourth quarter 2025 financial results, showing a net income of $216.0 million compared to a net loss of $291.1 million in the same period last year, largely due to a GAAP non-cash fair value gain. Non-GAAP Adjusted EBITDA was $(42.7) million for the quarter. The restatement has no impact on revenue, adjusted EBITDA, or net cash flows for the affected periods.
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About Core Scientific Inc.
Core Scientific Inc. is a leading provider of blockchain infrastructure and artificial intelligence-related services and solutions. This dynamic company primarily focuses on the development of high-performance data centers designed to support digital asset mining and blockchain networks. The firm operates vast and sophisticated facilities that offer hosting services, providing clients with the necessary infrastructure to mine cryptocurrencies, including Bitcoin. Core Scientific Inc. is deeply embedded within the technology and financial sectors, leveraging advanced computing environments that enable scalable, secure, and efficient processing of blockchain transactions. Founded on the principles of innovation and operational excellence, Core Scientific has positioned itself as a significant player in the growth of blockchain technology, impacting how digital currencies are mined and managed. Its role in the financial markets includes supporting the decentralized finance ecosystem and contributing to the broader adoption of cryptocurrencies by enhancing the technical framework required for their operation and legitimacy.
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