Bitcoin miner Core Scientific reported third-quarter revenue of approximately $233 million, a 187% increase year-over-year. The company posted net income of roughly $1.178 billion, primarily driven by non-cash gains from changes in warrant fair value, alongside earnings per share of $0.47. Adjusted EBITDA rose sequentially to $133.6 million, with margins expanding significantly from 25% to 57%. The growth was fueled by a strategic shift toward hosting services, which generated $215.4 million in revenue—up nearly 60% quarter-over-quarter and accounting for about 92.5% of total revenue. In contrast, self-mining revenue dropped sharply by approximately 79% year-over-year to $12.26 million. During the first three quarters of the year, Core Scientific sold digital assets obtained from self-mining for about $287 million in cash, reducing its digital asset holdings to approximately $2.69 million.