Core Scientific Inc SEC Filings

Core Scientific, Inc. held its 2026 Annual Meeting of Stockholders, where shareholders voted on directors, executive compensation and the independent auditor. Five directors were elected, including Adam Sullivan with 217,650,785 votes for and 2,469,826 withheld, and Elizabeth Crain with 215,074,279 for and 5,046,332 withheld.

Stockholders approved, on a non-binding advisory basis, the compensation of the company’s named executive officers, with 138,785,477 votes for, 79,166,695 against and 2,168,439 abstentions. They also ratified KPMG LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 262,833,296 votes for, 313,161 against and 1,752,370 abstentions.

Core Scientific, Inc. ownership disclosure: a group of affiliated broker‑dealers led by Susquehanna entities reports beneficial ownership of 14,631,891 shares, representing 4.6% of the class. The filing states 315,594,802 Shares outstanding as of March 23, 2026. The reported holdings include option and warrant positions: 12,963,500 options and various warrants and options held across the reporting entities. The filing is a joint Schedule 13G/A by G1 Execution Services, LLC; SIG Brokerage, LP; Susquehanna Investment Group; and Susquehanna Securities, LLC, and includes a joint filing agreement.

Core Scientific, Inc. ownership disclosure: a group of affiliated broker‑dealers led by Susquehanna entities reports beneficial ownership of 14,631,891 shares, representing 4.6% of the class. The filing states 315,594,802 Shares outstanding as of March 23, 2026. The reported holdings include option and warrant positions: 12,963,500 options and various warrants and options held across the reporting entities. The filing is a joint Schedule 13G/A by G1 Execution Services, LLC; SIG Brokerage, LP; Susquehanna Investment Group; and Susquehanna Securities, LLC, and includes a joint filing agreement.

Core Scientific, Inc. officer Todd M. Duchene reported selling 10,000 shares of Common Stock on May 11, 2026 in open-market transactions. The sales occurred in two blocks at weighted average prices of $22.8162 and $23.3916 per share. The filing states the trades were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 5, 2025, indicating the transactions were scheduled in advance rather than timed discretionarily. After these sales, Duchene continues to hold a substantial direct equity position in the company, so the activity represents a small portion of his overall holdings.

Core Scientific, Inc. officer Todd M. Duchene reported selling 10,000 shares of Common Stock on May 11, 2026 in open-market transactions. The sales occurred in two blocks at weighted average prices of $22.8162 and $23.3916 per share. The filing states the trades were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 5, 2025, indicating the transactions were scheduled in advance rather than timed discretionarily. After these sales, Duchene continues to hold a substantial direct equity position in the company, so the activity represents a small portion of his overall holdings.

Core Scientific, Inc. executive Ray Jorge L., the Chief Accounting Officer, has reported his initial beneficial ownership of company equity on a Form 3. The filing shows direct ownership of 37,998 shares of Common Stock. A related footnote describes this as a restricted stock unit grant, with one-third vesting on March 5, 2027 and the remaining two-thirds vesting in eight substantially equal quarterly installments afterward, as long as he continues providing service on each vesting date.

Core Scientific, Inc. executive Ray Jorge L., the Chief Accounting Officer, has reported his initial beneficial ownership of company equity on a Form 3. The filing shows direct ownership of 37,998 shares of Common Stock. A related footnote describes this as a restricted stock unit grant, with one-third vesting on March 5, 2027 and the remaining two-thirds vesting in eight substantially equal quarterly installments afterward, as long as he continues providing service on each vesting date.

Core Scientific, Inc. reported sharply higher Q1 2026 revenue of $115.2 million, up from $79.5 million a year earlier, driven mainly by high-density colocation services. Colocation revenue rose to $77.5 million with a 57% gross margin, reflecting rapid expansion of AI and HPC-focused data centers.

The company recorded a net loss of $347.2 million, compared with net income of $576.3 million in Q1 2025, primarily due to $266.5 million of non-cash impairment charges on mining equipment and infrastructure as it pivots away from bitcoin self-mining. Digital asset self-mining revenue fell to $30.1 million and generated a negative gross margin.

Cash, cash equivalents and restricted cash increased to $1.15 billion, largely from a new $1.0 billion term loan facility, later refinanced via a $3.30 billion 7.75% senior secured notes issuance. Total liabilities reached $4.38 billion, and stockholders’ deficit widened to $1.31 billion. Deferred revenue climbed to $654.2 million, reflecting substantial pre-funded colocation build-outs and long-term contracts.

Core Scientific, Inc. reported sharply higher Q1 2026 revenue of $115.2 million, up from $79.5 million a year earlier, driven mainly by high-density colocation services. Colocation revenue rose to $77.5 million with a 57% gross margin, reflecting rapid expansion of AI and HPC-focused data centers.

The company recorded a net loss of $347.2 million, compared with net income of $576.3 million in Q1 2025, primarily due to $266.5 million of non-cash impairment charges on mining equipment and infrastructure as it pivots away from bitcoin self-mining. Digital asset self-mining revenue fell to $30.1 million and generated a negative gross margin.

Cash, cash equivalents and restricted cash increased to $1.15 billion, largely from a new $1.0 billion term loan facility, later refinanced via a $3.30 billion 7.75% senior secured notes issuance. Total liabilities reached $4.38 billion, and stockholders’ deficit widened to $1.31 billion. Deferred revenue climbed to $654.2 million, reflecting substantial pre-funded colocation build-outs and long-term contracts.

Core Scientific, Inc. officer Todd M. Duchene reported selling 10,000 shares of the company’s common stock in open-market transactions. The sales occurred on May 4, 2026, at weighted-average prices of $21.53 for 100 shares and $20.8499 for 9,900 shares.

After these transactions, Duchene directly holds 1,980,348 shares of Core Scientific common stock. The filing notes the trades were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 5, 2025, indicating they were scheduled in advance rather than timed discretionarily.

Core Scientific, Inc. officer Todd M. Duchene reported selling 10,000 shares of the company’s common stock in open-market transactions. The sales occurred on May 4, 2026, at weighted-average prices of $21.53 for 100 shares and $20.8499 for 9,900 shares.

After these transactions, Duchene directly holds 1,980,348 shares of Core Scientific common stock. The filing notes the trades were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 5, 2025, indicating they were scheduled in advance rather than timed discretionarily.

Core Scientific, Inc. reported strong top-line growth but a large loss for the first quarter of 2026 as it shifts toward high-density colocation services. Total revenue reached $115.2 million, up from $79.5 million a year earlier, driven by a surge in colocation revenue to $77.5 million from $8.6 million.

Digital asset self-mining revenue fell to $30.1 million from $67.2 million as the company continues its strategic move away from proprietary mining. Gross profit improved to $30.1 million from $8.2 million, but Core Scientific posted a net loss of $347.2 million versus net income of $576.3 million in the prior-year quarter, mainly due to $266.5 million of non-cash impairment charges and a $30.8 million non-cash loss on warrants and contingent value rights.

Non‑GAAP Adjusted EBITDA turned positive at $4.4 million compared with a loss of $6.1 million. Liquidity was $1.04 billion as of March 31, 2026, including $1.01 billion of cash and cash equivalents and $37.3 million of bitcoin. The company also highlighted a recently closed $3.3 billion 7.75% senior secured notes due 2031 and a total gross power capacity pipeline of 4.5 GW supporting its colocation growth strategy.

Core Scientific, Inc. reported strong top-line growth but a large loss for the first quarter of 2026 as it shifts toward high-density colocation services. Total revenue reached $115.2 million, up from $79.5 million a year earlier, driven by a surge in colocation revenue to $77.5 million from $8.6 million.

Digital asset self-mining revenue fell to $30.1 million from $67.2 million as the company continues its strategic move away from proprietary mining. Gross profit improved to $30.1 million from $8.2 million, but Core Scientific posted a net loss of $347.2 million versus net income of $576.3 million in the prior-year quarter, mainly due to $266.5 million of non-cash impairment charges and a $30.8 million non-cash loss on warrants and contingent value rights.

Non‑GAAP Adjusted EBITDA turned positive at $4.4 million compared with a loss of $6.1 million. Liquidity was $1.04 billion as of March 31, 2026, including $1.01 billion of cash and cash equivalents and $37.3 million of bitcoin. The company also highlighted a recently closed $3.3 billion 7.75% senior secured notes due 2031 and a total gross power capacity pipeline of 4.5 GW supporting its colocation growth strategy.

Core Scientific, Inc. announced that its subsidiary Core Scientific Finance I LLC completed a private offering of $3.3 billion aggregate principal amount of 7.750% senior secured notes due 2031. The notes priced at 99.250% of principal, with interest paid semi-annually each May 15 and November 15, starting November 15, 2026.

The issuer expects net proceeds of about $3.24 billion. It will fund a debt service reserve account and distribute the remaining proceeds to Core Scientific. Core Scientific plans to use a portion of those funds to fully repay borrowings under its delayed-draw bridge credit facility of up to $1.0 billion, including accrued interest and related fees.

The notes are senior secured obligations, guaranteed by the issuer’s five datacenter subsidiaries and secured by first‑priority liens on substantially all of their assets, specified equity interests, and certain parent assets. Principal amortizes semi‑annually at an initial rate of 11.50% per annum, and the indenture includes customary redemption, repurchase, covenant and event‑of‑default provisions, plus a completion guarantee by Core Scientific for specified datacenter projects.

Core Scientific, Inc. announced that its subsidiary Core Scientific Finance I LLC completed a private offering of $3.3 billion aggregate principal amount of 7.750% senior secured notes due 2031. The notes priced at 99.250% of principal, with interest paid semi-annually each May 15 and November 15, starting November 15, 2026.

The issuer expects net proceeds of about $3.24 billion. It will fund a debt service reserve account and distribute the remaining proceeds to Core Scientific. Core Scientific plans to use a portion of those funds to fully repay borrowings under its delayed-draw bridge credit facility of up to $1.0 billion, including accrued interest and related fees.

The notes are senior secured obligations, guaranteed by the issuer’s five datacenter subsidiaries and secured by first‑priority liens on substantially all of their assets, specified equity interests, and certain parent assets. Principal amortizes semi‑annually at an initial rate of 11.50% per annum, and the indenture includes customary redemption, repurchase, covenant and event‑of‑default provisions, plus a completion guarantee by Core Scientific for specified datacenter projects.

Core Scientific, Inc. plans a major expansion of its Muskogee, Oklahoma campus by acquiring Polaris DS LLC’s assets through a merger structure for an approximate $421 million cash purchase price, plus up to $40 million more if an additional 40 megawatts of firm electric capacity becomes available by December 31, 2026.

The acquired entity will own about 40 acres of land, an electrical substation and electrical service agreements providing up to 440 megawatts of continuous power adjacent to Core Scientific’s existing data center. The deal is expected to close early in the third quarter of 2026, subject to customary regulatory and other conditions.

Core Scientific has already deposited $120 million in escrow toward the purchase price and outlines liquidated-damages scenarios if the merger terminates. In a related strategy, the company targets roughly 1.5 gigawatts of gross power and about 1.0 gigawatt of leasable power at Muskogee, supported by new construction and approximately 250 acres of secured land.

Core Scientific, Inc. plans a major expansion of its Muskogee, Oklahoma campus by acquiring Polaris DS LLC’s assets through a merger structure for an approximate $421 million cash purchase price, plus up to $40 million more if an additional 40 megawatts of firm electric capacity becomes available by December 31, 2026.

The acquired entity will own about 40 acres of land, an electrical substation and electrical service agreements providing up to 440 megawatts of continuous power adjacent to Core Scientific’s existing data center. The deal is expected to close early in the third quarter of 2026, subject to customary regulatory and other conditions.

Core Scientific has already deposited $120 million in escrow toward the purchase price and outlines liquidated-damages scenarios if the merger terminates. In a related strategy, the company targets roughly 1.5 gigawatts of gross power and about 1.0 gigawatt of leasable power at Muskogee, supported by new construction and approximately 250 acres of secured land.

Core Scientific, Inc. has appointed Jorge Ray as its Principal Accounting Officer, effective May 7, 2026. He currently serves as Chief Accounting Officer, a role he has held since March 2026, and brings prior senior accounting experience from Raymond James Financial, BankUnited, KPMG, and PwC.

His compensation includes a base salary of $400,000, a target annual bonus equal to 40% of base salary, a one-time grant of restricted stock units valued at $600,000 that vest over three years, and a one-time signing bonus of $193,000, including $71,000 for relocation expenses.

Core Scientific, Inc. has appointed Jorge Ray as its Principal Accounting Officer, effective May 7, 2026. He currently serves as Chief Accounting Officer, a role he has held since March 2026, and brings prior senior accounting experience from Raymond James Financial, BankUnited, KPMG, and PwC.

His compensation includes a base salary of $400,000, a target annual bonus equal to 40% of base salary, a one-time grant of restricted stock units valued at $600,000 that vest over three years, and a one-time signing bonus of $193,000, including $71,000 for relocation expenses.