Core Scientific's AI pivot faces a test in turning contracts into revenue. Colocation sales and margins climbed in the second quarter, but investors remain focused on the funding required to build out the business. Core Scientific is trying to remake itself from a Bitcoin miner into a data-center provider for artificial intelligence and high-performance computing. The shift has become central to the company's investment case, but its long-term value depends on whether it can turn contracted demand into steady revenue while financing the infrastructure needed to serve customers. The company's second-quarter 2026 results show the colocation business expanding quickly. Revenue reached $164.2 million, more than twice the year-earlier level, while colocation revenue rose to $136.7 million from $10.6 million. Core Scientific reported a 59% colocation margin, compared with a 43% gross margin across the company. That growth has not prevented a steep share-price decline. Core Scientific traded at $14.43 on October 29, 2026, and had lost 33.01% over the prior 12 months. The bullish thesis discussed by The Analyst's Journal on RA Capital's Substack points to the company's AI potential; the counterweight is investor concern about the debt and funding required to build AI data centers. What the results show. Colocation is the business of renting data-center space and power to customers, including AI companies. Its sharp revenue increase suggests the pivot is already producing sales, rather than resting entirely on future plans. But the second-quarter figures alone do not show how much of the company's contracted demand will become recurring revenue over time. Adjusted EBITDA rose to $41.1 million from $8.9 million in the prior quarter. The article also said Core Scientific's colocation margin was substantially higher than its company-wide gross margin, a sign that the hosting operation may have different economics from its broader business as it scales. The funding and execution question. The company filed for Chapter 11 bankruptcy protection in December 2022 and emerged in January 2024. Its current transition therefore follows a restructuring as well as a change in business focus. The article put Core Scientific's valuation at about $6.75 billion and its forward price-to-earnings ratio at 24.46, measures that place weight on future growth. For comparison, the article cited 12-month share declines of 56.57% for Cipher Mining and 44.00% for Applied Digital. It did not give a WULF return figure. It also did not specify the amount or timing of financing Core Scientific will need, or how quickly its backlog will translate into revenue. Those unanswered questions leave execution and funding as the central tests for the AI-colocation story. This report draws on information from Yahoo Finance. Editorial checks passed Facts, figures and quotes checked against 1 source

Core Scientific appoints Jay Elms as Chief Commercial Officer. Data center executive brings more than two decades of customer relationship experience MIAMI / Sep 25, 2026 / Business Wire / Core Scientific, Inc. (Nasdaq: CORZ) ("Core Scientific" or the "Company"), a leader in digital infrastructure for high-density colocation ("HDC"), today announced that Jay Elms has joined the Company's executive team as Chief Commercial Officer. In this role, Elms will be responsible for growing customer relationships and overseeing the customer experience from initial engagement through deployment. "We are excited to welcome Jay to our executive team," said Adam Sullivan, Chief Executive Officer of Core Scientific. "Jay joins Core Scientific at an important moment as we enter our next phase of growth. His deep customer relationship experience in the data center industry will be instrumental in ensuring the success of our existing customers while aligning our commercial strategy with our site selection, development and construction capabilities." Elms brings more than two decades of sales and commercial leadership experience. Most recently, he served as Senior Vice President of Global Sales at CyrusOne. Before joining CyrusOne, he spent nearly seven years as Vice President of Global Sales at NTT Global Data Centers Americas, where he led commercial engagements with hyperscale and wholesale customers. Earlier in his career, Elms held sales leadership roles at View, Schneider Electric and Siemens. He holds an MBA in Finance from the SMU Cox School of Business and a bachelor's degree in construction science from Texas A&M University. "Core Scientific has distinguished itself by delivering complex, AI-ready digital infrastructure at scale," said Elms. "The Company combines a strong power portfolio with the development and operational capabilities customers need to bring critical infrastructure online. I look forward to scaling customer relationships and enhancing the customer experience." About Core Scientific, Inc. Core Scientific is a leader in designing, building and operating large scale, purpose-built data centers for high-density colocation ("HDC") services. Core Scientific operates facilities for high-density colocation services serving artificial intelligence-related ("AI") workloads and is a premier provider of digital infrastructure and services to its third-party customers. The majority of the Company's revenue is derived from high-density colocation services, with the remainder derived from earning digital assets for the Company's own account and from digital asset mining hosting services. The Company is in the process of repurposing its remaining mining facilities to support its high-density colocation services business as circumstances allow. Core Scientific's facilities are located in Alabama (1), Georgia (2), Kentucky (1), North Carolina (1), North Dakota (1), Oklahoma (1) and Texas (4). To learn more, visit www.corescientific.com. Special Note Regarding Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). Forward-looking statements may include words such as "aim," "estimate," "plan," "project," "forecast," "goal," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the Company's senior secured credit facilities, including the anticipated use of proceeds therefrom and the impact on the Company's capital efficiency and financial flexibility. These statements are provided for illustrative purposes only and are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company's management. These forward-looking statements are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions, known or unknown, that could cause actual results to vary materially from those indicated or anticipated. These risks, assumptions and uncertainties include those described in the section titled "Risk Factors" of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, Quarterly Reports on Form 10-Q, and the Company's other filings with the Securities and Exchange Commission. If one or more of these risks or uncertainties materializes, or if underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. There may be additional risks that the Company could not presently know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company's expectations, plans or forecasts of future events and views as of the date of this press release and should not be relied upon as representing the Company's assessments as of any date subsequent to the date of this press release. The Company anticipates that subsequent events and developments will cause the Company's assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. Accordingly, you should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Please follow Green Stock News LLC on: Plug into more green stock news. Tap into the pulse of emerging green sectors every morning. Top daily headlines from clean energy, cleantech, cannabis, and sustainable transport stocks: