Core Scientific's first-quarter net profit was $580 million, mainly due to warrant valuation adjustments

PANews reports on May 8th that Nasdaq-listed Bitcoin mining company Core Scientific achieved a net profit of $580.7 million in Q1 2025, doubling year-on-year, primarily due to a $621.5 million non-cash gain 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 significant energy service agreement with CoreWeave, expected to generate $360 million in revenue next year.