Core Scientific reported a net profit of $580 million in the first quarter, mainly due to adjustments in warrant valuations.

[Core Scientific’s Q1 net profit reaches $580 million, mainly due to warrant valuation adjustment] Nasdaq-listed Bitcoin mining company Core Scientific achieved a net profit of $580.7 million in Q1 2025, doubling year-on-year, primarily due to a non-cash gain of $621.5 million from warrant adjustments based on market capitalization following last year’s bankruptcy restructuring. Despite revenue plummeting to $7.95 million year-on-year, the company is transforming to expand its high-performance computing business and has signed a large energy service agreement with CoreWeave, expected to generate $360 million in revenue next year.