Core Scientific Grows Bitcoin Treasury and Boosts AI Revenue

Crypto miner Core Scientific is growing its Bitcoin treasury again after a period of selling. A new regulatory filing shows the Nasdaq listed company held 848 Bitcoins at the end of the quarter, up from 547 coins earlier in the year. The company added 301 coins over the quarter using its newly mined assets, signaling a shift back toward treasury accumulation even as it balances other business ventures.

The timing coincides with a major financial turnaround for the firm. Core Scientific reported a sharp jump in quarterly revenue to $164.2 million, up from $78.6 million the previous year. Gross profit also climbed dramatically to $70 million. The financial growth comes as the miner successfully diversifies its business model by providing infrastructure for artificial intelligence and high powered computing.

Alongside its growing crypto reserves, the company secured a major deal with chipmaker AMD to provide substantial data center capacity for AI workloads. Many mining firms are pivoting toward high performance computing to capture new revenue streams as mining rewards tighten. Traders will likely watch to see how Core Scientific balances its dual focus on Bitcoin accumulation and AI expansion in the months ahead.

This is not financial advice. Always do your own research before trading cryptocurrencies or crypto stocks.