Digital infrastructure firm Core Scientific reported second-quarter revenue of $164.2 million, more than double the $78.6 million recorded a year earlier, as artificial intelligence and high-performance computing colocation became its largest business. Gross profit rose to $70 million from $5 million. A non-cash accounting charge linked to the rising value of outstanding warrants produced a net loss of $1.15 billion.

Colocation revenue reached $136.7 million, up from $10.6 million in the prior-year period. The results reflect a broader shift among former Bitcoin mining companies toward more stable revenue streams from data-center capacity as demand for artificial intelligence infrastructure increases. Core Scientific, once among the largest publicly traded Bitcoin miners, now derives the majority of its income from colocation services and holds a Bitcoin treasury of fewer than 1,000 coins.

Shares declined more than 4 percent following the release, although the stock remains up 36 percent year-to-date.

Alongside the results the company announced a partnership with Advanced Micro Devices. The arrangement is initially supported by 15-year contracts covering 530 megawatts across multiple United States sites beginning in 2027 and could expand to support up to 2.5 gigawatts of leasable data-center capacity. The broader collaboration carries the potential to generate more than $14 billion in contracted base revenue. Total leased customer power capacity now stands at approximately 1.1 gigawatts, representing more than $24 billion in potential contracted revenue. Other digital infrastructure operators have recently disclosed multi-billion-dollar cloud and lease agreements with artificial intelligence customers.