Nasdaq-listed Bitcoin mining company Core Scientific reported a net profit of $580.7 million in Q1 2025

Nasdaq-listed Bitcoin mining company Core Scientific reported a net profit of $580.7 million in the first quarter of 2025 (Q1), doubling year-on-year, mainly due to a non-cash gain of $621.5 million from warrant adjustments based on market value after last year's bankruptcy restructuring. Despite a sharp year-on-year decline in revenue to $79.5 million, the company is transforming and expanding its high-performance computing business and has signed a large energy services agreement with CoreWeave, which is expected to bring in $360 million in revenue next year.