Core Scientific Reports Massive Q1 Profit Despite Revenue Shortfall

Bitcoin mining firm Core Scientific posted a significant $580 million profit for the first quarter, exceeding analysts’ estimates but falling short of revenue expectations. The company attributed its profitability to increased Bitcoin prices and operational shifts towards high-performance computing (HPC) hosting, although lower mining rewards due to the April 2024 halving played a role. 2025 Q1 results showed more than double the $210 million net income from the previous year.