Core Scientific posts $1.2B profit as colocation revenue jumps 60% in Q3

The former bankruptcy case now earns most of its money renting power and space to AI customers like CoreWeave and AMD Core Scientific (NASDAQ: CORZ) reported $232.9 million in revenue for the third quarter of 2026. Most of that money came from colocation services, not from mining. The company increasingly looks less like a miner and more like a landlord for AI hardware. The headline figure is $232.9 million in quarterly revenue. Colocation was the main driver. Colocation is easiest to picture as a hotel for computers. Customers bring their own servers and chips. Core Scientific supplies the building, the electricity, the cooling and the connectivity. The company focuses on high-density colocation (HDC), which means racks packed with power-hungry hardware for AI and high-performance computing (HPC) workloads.

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