Core Scientific Reports Significant Profit Increase in Q1 2025

According to PANews, Core Scientific, a Nasdaq-listed Bitcoin mining company, reported a net profit of $580.7 million for the first quarter of 2025, marking a year-on-year doubling. This substantial increase is primarily attributed to a $621.5 million non-cash gain from warrant adjustments following last year's bankruptcy restructuring. Despite a sharp decline in revenue to $79.5 million compared to the previous year, the company is transitioning to expand its high-performance computing business. Core Scientific has signed a significant energy services agreement with CoreWeave, which is expected to generate $360 million in revenue next year.