Core Scientific Reports Q3 2026 Financial Results and Strategic Pivot to Colocation

Core Scientific reported Q3 2026 revenue of $232.9 million, above analyst expectations, and net income of $1.18 billion, or $3.42 per share. Net income included a $1.03 billion non-cash gain related to warrants. AI colocation generated about 92% of quarterly revenue, and the company plans to exit Bitcoin self-mining by December 31, 2026, becoming a pure-play provider of high-density colocation for AI and high-performance computing. It reported 485 megawatts of billing capacity as of September 30, 2026.