Core Scientific: 3 Key Takeaways for Long-Term Investors
Industrywide capital strain may leave Core Scientific with cheaper powered sites, but the company's own acquisition pipeline remains unproven.
Core Scientific announced its projected $1.8 billion in average annual run-rate revenue from its contracted data center portfolio during its third-quarter 2026 earnings call on November 5, 2026. The company is shifting its focus to become a pure-play colocation provider, housing specialized computing hardware for AI customers. Management projects that by the end of 2026, their contracted capacity will generate $1.6 billion in annual net operating income.
Core Scientific currently has 1.1 GW of capacity under contract with AMD and plans to increase this further. The company is investing heavily in high-density data centers, which require significant upfront capital. Core Scientific is evaluating acquisition opportunities in the data center sector, including powered land and projects under construction, to mitigate heavy capital demands faced by smaller developers and private equity-backed operators.
The company expects a double-digit sequential increase in fourth-quarter revenue as it continues to bill for additional megawatts and benefits from revenue generated from prior deliveries.
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