Core Viewpoint - Core Scientific reported a year-over-year decline in total revenue for Q3 2025, despite a significant increase in AI revenue by nearly 50% [1][2] Financial Performance - Total revenue for Q3 2025 was $81.1 million, a 15% decrease from $95.4 million in Q3 2024 [2] - Gross profit was $3.9 million, compared to a loss of $0.2 million in Q3 2024 [2] - The net loss for the quarter was $146.7 million, an improvement from a loss of $455.3 million in Q3 2024 [2] - Adjusted EBITDA was -$2.4 million, down from $10.1 million in the same quarter last year [2] Bitcoin Mining Operations - Revenue from bitcoin mining (self-mining and hosting) was $66.1 million, down 22% from $85 million in Q3 2024 [3] - Core Scientific reduced its own bitcoin mining operations by 20%, from 20.4 exahashes per second (EH/s) to 16.3 EH/s [4] - Bitcoin mining hosting services operations were reduced by 27%, from 3 EH/s to 2.2 EH/s [4] AI Business Growth - The AI business line generated $15 million in Q3 2025, a 45% increase from $10.3 million in Q3 2024 [5] - Core Scientific plans to have 250 megawatts (MW) online for AI colocation services by the end of the year [5] Acquisition Proposal - CoreWeave proposed an all-stock acquisition of Core Scientific valued at $9 billion, with each CORZ share worth 1/8th of a CRWV share [6] - Some investors criticized the deal, claiming it undervalues Core Scientific and serves as a "golden parachute" for management [7] - Two Seas Capital, a major shareholder, is urging a "No" vote on the acquisition in the upcoming shareholder vote on October 30, 2025 [7]