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Core Scientific sold 2,385 Bitcoins in Q1 to fund its transition to an AI data center.
BlockBeats news. On May 7, crypto mining company Core Scientific (CORZ) reported a loss of $347.2 million for the first quarter of 2026. It sold 2,385 bitcoins (worth $208.3 million) and completed a $3.3 billion bond issuance to fund its transition to operating AI data centers. The company said that proceeds from bitcoin sales were used to support capital expenditures and other cash needs.
According to the financial report released by the company, its total revenue was $115.2 million. AI data center hosting revenue increased from $8.6 million in the same period last year to $77.5 million, becoming Core Scientific’s largest business line.
Meanwhile, affected by a 45% decline in bitcoin mining volume and an 18% drop in the average price of bitcoin, the company’s cryptocurrency mining revenue fell from $67.2 million to $30.1 million.