ChainCatcher report: Cryptocurrency mining company Core Scientific (CORZ) announced a first-quarter 2026 loss of $347.2 million, sold 2,385 bitcoins (valued at $208.3 million), and completed a $3.3 billion bond offering to fund its transition to artificial intelligence data center operations. The company stated that proceeds from the bitcoin sales were used to finance capital expenditures and other cash needs. According to its financial report, total revenue amounted to $115.2 million, with AI data center hosting revenue increasing from $8.6 million in the same period last year to $77.5 million, becoming Core Scientific’s largest business line. Meanwhile, cryptocurrency mining revenue declined from $67.2 million to $30.1 million due to a 45% decrease in bitcoin mining output and an 18% drop in the average bitcoin price.
Core Scientific sells 2,385 BTC in Q1 2026 to fund its transition to AI data centers.
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Summary
Core Scientific (CORZ) sold 2,385 BTC in Q1 2026, raising $208.3 million to fund its shift to AI data centers. The company reported a $347.2 million net loss and issued $3.3 billion in bonds. AI hosting revenue surged to $77.5 million, surpassing crypto mining, which declined to $30.1 million. Bitcoin mining output dropped 45%, and prices fell 18%. Investors monitoring altcoins to watch may note the company’s strategic pivot. Inflation data remains a key factor for crypto valuations.
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