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Core Scientific (CORZ) reported fourth-quarter revenue of $79.8 million, down from $94.93 million a year earlier and below the expected $122.08 million. The company recorded a loss of $0.42 per share, worse than the anticipated $0.08 loss.

The results reflect challenges in the bitcoin mining industry following the April 2024 halving. Core is shifting towards hosting and colocation services and is expanding into Texas with an additional 430 megawatts of capacity. Riot Platforms (RIOT) reported a strong revenue increase to $647.4 million, surpassing expectations.