Core Scientific reports $347M Q1 loss despite revenue growth, shares fall after initial surge.

Core Scientific reported a net loss of $347.2 million in Q1 2026 despite strong revenue growth to $115.2 million, driven by its colocation business. The self-mining segment saw revenue decline due to lower Bitcoin production and prices. The company attributed the loss mainly to non-cash impairment charges and fair value losses. Shares initially rose on news of a $421 million acquisition of Polaris DS LLC but later dropped 7% in after-hours trading. CEO Adam Sullivan emphasized ongoing investments in infrastructure for future growth.