Core Scientific's third-quarter hosted data center revenue grew nearly 60% quarter-over-quarter, with net income reaching $1.178 billion.

Core Scientific reported Q3 2026 total revenue of $232.9 million, up about 187% year-over-year, with high-density colocation (HDC) data center revenue reaching $215.4 million, a nearly 60% sequential increase. Billed colocation capacity stood at 485 MW as of September 30, corresponding to more than $700 million in annualized GAAP hosting revenue, while net income hit $1.178 billion, driven mainly by non-cash gains from warrant fair value changes, and adjusted EBITDA rose more than threefold sequentially to $133.6 million. The company said its first hosting agreement is nearing full delivery and a second is under construction across five campuses. The results underscore the growing contribution of high-density hosting to Core Scientific's top line as it scales capacity for AI and compute customers.