Core Scientific disclosed a net income of $210.7 million for Q1, a notable shift from the $0.4 million loss in the same period last year. Revenue surged to $179.3 million, driven by $150 million from crypto mining and $29.3 million from hosting, marking a $58.6 million increase compared to Q1 2023.

Cash and equivalents soared to $98.1 million. The company achieved a remarkable Bitcoin production of 2,825 BTC, valued at $172.5 million, boasting a hash rate of 25.5 exahashes per second.

Core Scientific is eyeing additional revenue avenues by exploring the conversion of 500 megawatts for high-performance computing, aiming to tap into both computing and Bitcoin mining markets, with plans to cater to AI firms.