Core Scientific Reports Strong Q3 Results with Hosting Business Leading Growth
Core Scientific announced robust financial results for the third quarter of 2026, demonstrating substantial expansion across its operations. The company recorded total revenue of $232.9 million, representing a year-over-year increase of approximately 187%.
Hosting Services Drive Performance
The high-density hosting data center segment stood out this quarter, generating $215.4 million in revenue—a sequential increase of nearly 60%. This growth highlights sustained demand for specialized data center infrastructure.
As of September 30, deployed and billed hosting capacity reached 485 megawatts. Based on this figure, annualized GAAP hosting revenue is projected to exceed $700 million, providing a solid foundation for future earnings.
Financial Highlights and Operational Progress
Net income for the quarter was $1.178 billion, largely influenced by non-cash gains from changes in the fair value of warrants. Adjusted EBITDA rose to $133.6 million, more than tripling from the previous quarter and indicating improved operational efficiency.
On the operational front, the company's first major hosting agreement is nearing full delivery, marking the completion of initial deployment targets. A second agreement is currently under construction across five separate campuses, laying the groundwork for future capacity expansion.
- Total Revenue: $232.9 million, up 187% year-over-year
- Hosting Revenue: $215.4 million, up 60% sequentially
- Hosting Capacity: 485 MW deployed and billed
- Net Income: $1.178 billion
- Adjusted EBITDA: $133.6 million
These metrics underscore Core Scientific's established position in the data center hosting market and its ongoing investment in infrastructure to support continued growth.