Core Scientific sells $208 million worth of BTC in Q1 and turns to AI: CoreWeave backs it with a 12-year contract
Core Scientific sells BTC worth $208 million in 2026 Q1. In January, it sold 1,900 BTC to fund cash flow for the AI data center transformation and to execute its Q1 liquidation plan. The key highlights include a 12-year CoreWeave contract of about 590 MW covering 5 locations, with contracted revenue exceeding $10 billion, and a 3.0 GW pipeline to strengthen visibility into long-term revenue. Revenue fell 40% year over year over the past 12 months, with a gross margin of 10%. The share price rose on the positive news, with expectations that from 2027 onward, a turnaround will be driven by power on.
BTC-2.30%
ChainNewsAbmedia·05-07 10:23
