Core Scientific's net profit for the first quarter was $580 million, mainly due to the valuation adjustment of warrants

Core Scientific, a Bitcoin mining company listed on NASDAQ, achieved a net profit of $580.7 million in Q1 2025, doubling year-on-year, mainly due to a non cash gain of $621.5 million from adjusting warrants based on market value after bankruptcy restructuring last year. Despite a sharp decline in revenue to $79.5 million year-on-year, the company is transitioning to expand its high-performance computing business and signing a large energy service agreement with CoreWeave, expected to bring in $360 million in revenue next year.