Core Scientific Inc.

"The Company develops and operates facilities serving artificial intelligence and high-performance computing related workloads and is a premier provider of digital infrastructure."

"During the six months ended June 30, 2026, the Company recognized impairment charges of $266.5 million on its mining-related property, plant and equipment, consisting of $151.6 million related to mining equipment and $114.9 million related to mining infrastructure."

"On July 27, 2026, the Company entered into Lease Agreements with Advanced Micro Devices, Inc. for an aggregate of 377 MW of critical IT capacity at the Company's Pecos, TX; Muskogee, OK; and Hunt County, TX sites."

"The Company is in the process of repurposing its remaining mining facilities to support its high-density colocation services business as circumstances allow."

"During the three months ended March 31, 2026, the Company identified indicators of impairment of its mining equipment and mining infrastructure asset groups, including sustained declines in bitcoin prices, declines in bitcoin hashprice, and significant decreases in secondary market values for digital asset mining equipment."

"Colocation segment revenue is concentrated with a single customer; see Note 13 — Segment Reporting."

"During 2025, total revenue decreased to $319.0 million from $510.7 million, primarily due to lower digital asset self-mining revenue and digital asset hosted mining revenue as we shifted capital and infrastructure toward colocation"

"We have identified a material weakness in our internal control over financial reporting...the Company did not effectively operate controls to account for intended demolition of building and infrastructure assets"

"We intend to convert every megawatt in our portfolio to high-density colocation infrastructure over the next three years"

"We currently derive the majority of our revenue from earning digital assets for our own account but expect to rapidly increase revenue derived from high-density colocation (HDC)."

"As of September 30, 2025, the Company was contractually committed for and on behalf of our high-density colocation customer for approximately $1.24 billion of capital expenditures, primarily related to infrastructure modifications, equipment procurement, and labor."

"The extension of our business into the Colocation segment involves significant risk, including risks involving facility construction, supply chain and the risk of nonperformance by our single customer."

"The Company is in the process of converting most of our existing facilities to support artificial intelligence workloads and next generation colocation services."

"As of June 30, 2025, the Company was contractually committed for and on behalf of our high-density colocation customer for approximately $1.71 billion of capital expenditures, primarily related to infrastructure modifications, equipment procurement, and labor."

"The extension of our business into the Colocation segment involves significant risk, including risks involving facility construction, supply chain and the risk of nonperformance by our single customer."

"We provide hosting services for large bitcoin mining customers and are in the process of allocating and converting a significant portion of our ten data centers to support artificial intelligence-related workloads under a series of contracts that entail the modification of certain of our data centers to deliver next generation colocation services."

"These capital expenditures are expected to occur within the next 12 to 24 months."

"The extension of our business into the Colocation segment involves significant risk, including risks involving facility construction, supply chain and the risk of nonperformance by our single customer."

"We intend to focus our business development and marketing efforts on expanding our HPC hosting customer base...we believe that using our existing infrastructure for HPC hosting operations will provide more consistent dollar-based revenue and represents substantially less risk than our traditional hosted bitcoin mining or our bitcoin self-mining operations."

"During 2024, we were substantially engaged in constructing, refurbishing, reallocating or converting a substantial portion of our ten facilities...to support artificial intelligence related workloads, primarily for our one existing HPC customer."

"Our business environment is constantly evolving. However, digital asset mining is now dominated by large-scale, industrial miners operating large dedicated facilities around the world, including sovereign nation states with vast resources who mine directly or support mining operations through their sovereign wealth funds."

"We currently operate in three segments: 'Digital Asset Self-Mining,' consisting of digital asset mining for our own account, 'Digital Asset Hosted Mining,' consisting of our digital infrastructure and third-party hosting services for digital asset mining, and 'HPC Hosting,' consisting of our digital infrastructure and third-party hosting services for client HPC operations."

"Beginning on March 6, 2024, we announced a series of new contractual agreements with a third-party provider of HPC operations for customers using specialized graphics processing units ('GPUs'). These new agreements leverage the Company's existing digital infrastructure and expertise in third-party hosting solutions."

"Management has concluded that as of September 30, 2024, the Company's capital, cash flow from operations, and other sources of liquidity are sufficient to fund its operations and debt service obligations for at least the next 12 months following the date these condensed consolidated financial statements were issued."

"Going forward we intend to focus our efforts on expanding our HPC customer base while maintaining our bitcoin self-mining operations."

"We believe that using our existing infrastructure for HPC customers provides more consistent dollar-based revenue and substantially less risk than our traditional bitcoin mining customers or our bitcoin self-mining operations."

"management has concluded that as of June 30, 2024, the Company's capital, liquidity and cash flow from operations is sufficient to fund its operations and debt service obligations for at least the next 12 months"

"For the three months ended March 31, 2024, the Company generated net income of $210.7 million. The Company had unrestricted cash and cash equivalents of $98.1 million as of March 31, 2024, compared to $50.4 million as of December 31, 2023."

"The Company currently focuses primarily on digital asset mining. We employ our own large fleet of computers ('miners') to earn digital assets for our own account and provide hosting services for large customers at our seven operational data centers"

"We believe our experience in digital asset mining can be applied favorably to the design, development and operation of large-scale data centers configured to optimize the performance of specialized computers for other specific, high-value applications such as cloud computing, machine learning and artificial intelligence."

"substantial doubt exists regarding our ability to continue as a going concern"

"On September 19, 2023, the Debtors, the ad hoc group of the Debtors' secured convertible notes holders and the equity committee reached an agreement in principle with respect to the economic terms of the Plan"

"The Company had unrestricted cash and cash equivalents of $42.1 million as of September 30, 2023, compared to $15.9 million as of December 31, 2022"