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Core Scientific, a Nasdaq-listed Bitcoin mining company, achieved a net profit of $580.7 million in Q1 2025.
ChainCatcher news, Nasdaq-listed Bitcoin mining company Core Scientific reported a net profit of $580.7 million in the first quarter (Q1) of 2025, doubling year-on-year, mainly due to $621.5 million in non-cash gains from warrant adjustments based on market capitalization following last year's bankruptcy restructuring. Despite a sharp year-on-year decline in revenue to $7.95 million, the company is transforming and expanding its high-performance computing business and has signed a large energy service agreement with CoreWeave, which is expected to bring in $360 million in revenue next year.