The bitcoin miner reported a net loss for Q1 despite a rise in revenue, weighing on its shares.
Core Scientific Inc. posted a net loss in the first quarter, reversing from a profit a year earlier, despite higher revenue. The company’s shares declined following the results, reflecting investor concerns over profitability amid rising costs or operational challenges.
Revenue increased compared to the same period last year, but expenses or one-time charges may have offset gains. The prior-year quarter had shown a net profit, making the swing to a loss notable for market participants.
The stock’s decline suggests traders are focusing on the bottom-line miss rather than top-line growth, signaling caution in the sector.