Core Scientific posts $232.9 million in Q3 2026 revenue as colocation takes over

The former bankruptcy case now earns most of its money renting power and space to AI customers like CoreWeave and AMD Core Scientific (NASDAQ: CORZ) reported $232.9 million in revenue for the third quarter of 2026. Most of that money came from colocation services, not from mining. The company increasingly looks less like a miner and more like a landlord for AI hardware. The numbers behind the quarter The headline figure is $232.9 million in quarterly revenue. Colocation was the main driver. Colocation is easiest to picture as a hotel for computers. Customers bring their own servers and chips. Core Scientific supplies the building, the electricity, the cooling and the connectivity. The company focuses on high-density colocation (HDC), which means racks packed with power-hungry hardware for AI and high-performance computing (HPC) workloads. Compare that with the second quarter of 2026. Total revenue then was $164.2 million. Of that Q2 total, colocation contributed $136.7 million. Self-mining brought in only $21.5 million. Q3 revenue therefore came in $68.7 million above the prior quarter. Core Scientific has not released a full split of Q3 revenue by business line. Still, colocation ...