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Core Scientific Reports $347M Loss as AI Hosting Surpasses Bitcoin Mining
Core Scientific reported a $347.2 million first-quarter net loss as high-density colocation became its largest revenue source and Bitcoin self-mining weakened. Revenue rose to $115.2 million from $79.5 million a year earlier, but Zacks Equity Research said the result missed the $120.2 million analyst expectation. Core Scientific also sold 2,385 BTC for $208.3 million to fund planned capital expenditures and other cash needs.