Core Scientific Q3 Report: Hosting Revenue Up Nearly 60% QoQ to $215.4 million, Billed Capacity Reaches 485 MW

November 5 — Digital infrastructure company Core Scientific reported its third-quarter results for the period ended September 30, 2026. High-density hosting revenue grew nearly 60% quarter-over-quarter to $215.4 million, with total revenue of $232.9 million. Billed capacity reached 485 megawatts at quarter-end, corresponding to more than $700 million in annualized hosting GAAP revenue. Adjusted EBITDA more than tripled quarter-over-quarter to $133.6 million, with margin rising to 57%.

Net income came in at approximately $1.18 billion, primarily driven by non-cash gains from changes in the fair value of warrants. CEO Adam Sullivan said the first hosting agreement is nearing full delivery, and construction related to the second agreement is underway across five campuses. Self-mining revenue for the period was $12.26 million, while hosted mining revenue was $5.17 million.