Core Scientific's March Stock Slide Reflects Transition Challenges

Core Scientific's stock fell nearly 12% in March as the company accelerated its shift from Bitcoin mining to AI data centers, despite a GAAP net income flip and a $1 billion JPMorgan loan.

• Core Scientific's stock fell nearly 12% in March 2026 as it accelerated its shift from Bitcoin mining to AI data centers.
• Fourth-quarter 2025 revenue dropped to $79.8 million from $94.9 million in the same period of 2024.
• GAAP net income improved to $216 million ($0.60 per share) in Q4 2025, but much of this was due to non-cash gains from warrants and CVRs.
• Adjusted EBITDA showed a $43 million loss in Q4 2025, compared to a $13 million gain in Q4 2024.
• The company plans to monetize most of its Bitcoin holdings in 2026, though Bitcoin's price has declined from its late-2025 peak.
• Core Scientific secured a $1 billion 364-day loan facility from JPMorgan Chase in March 2026.