Core Scientifc - CW29 | 10-Q: FY2025 Q1 Revenue: USD 79.53 M
I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2025 Q1, the actual value is USD 79.53 M.
EPS: As of FY2025 Q1, the actual value is USD 1.25.
EBIT: As of FY2025 Q1, the actual value is USD -42.6 M.
Digital Asset Self-Mining Segment
- Revenue: $67.2 million for the three months ended March 31, 2025, a decrease from $150.0 million for the same period in 2024.
- Cost of Revenue: $61.2 million, down from $81.6 million in 2024.
- Gross Profit: $6.0 million, with a gross margin of 9% compared to 46% in 2024.
Digital Asset Hosted Mining Segment
- Revenue: $3.8 million for the three months ended March 31, 2025, down from $29.3 million in 2024.
- Cost of Revenue: $2.0 million, down from $20.1 million in 2024.
- Gross Profit: $1.7 million, with a gross margin of 46% compared to 32% in 2024.
Colocation Segment
- Revenue: $8.6 million for the three months ended March 31, 2025, with no comparable revenue in 2024.
- Cost of Revenue: $8.1 million.
- Gross Profit: $0.5 million, with a gross margin of 5%.
Consolidated Financials
- Total Revenue: $79.5 million for the three months ended March 31, 2025, a decrease from $179.3 million in 2024.
- Total Cost of Revenue: $71.3 million, down from $101.6 million in 2024.
- Gross Profit: $8.2 million, with a gross margin of 10% compared to 43% in 2024.
Future Outlook and Strategy
- Core Business Focus: The company is transitioning from bitcoin mining to high-density colocation services, aiming to provide more consistent revenue and reduce risk.
- Non-Core Business: No specific plans for non-core business segments were detailed in the report.
