Core Scientific Revenue Climbs to $232.9 Million on Colocation Growth

Core Scientific’s third-quarter revenue rose to $232.9 million as colocation sales reached $215 million, making the business the main contributor to the company’s higher revenue. Total revenue was $164 million in the second quarter and $81 million in the same quarter last year. Colocation revenue increased from about $137 million in the second quarter and $15 million a year earlier. The company had 485 megawatts of colocation capacity under billing as of Sept. 30, compared with 395 megawatts at the end of June. That capacity represented more than $700 million in average annualized colocation revenue under generally accepted accounting principles.

Source: TokenPost