PANews reported on May 7th that, according to CoinDesk , Core Scientific ( CORZ ) recorded a loss of $ 347.2 million in the first quarter . During this period, it sold 2,385 BTC , raising $ 208.3 million, and recorded a $ 266.5 million impairment charge on mining equipment and related assets to raise funds to support its transformation into an AI data center company. The company also completed a $ 3.3 billion 7.75% senior secured note issuance to fund data center construction and repay a $ 1 billion term loan. Its AI high-density hosting business, based on a long-term contract with CoreWeave expanding to 590 MW , is expected to contribute approximately $ 10.2 billion in revenue over the next 12 years. In the first quarter, hosting revenue from this business reached $ 77.5 million, exceeding the $ 30.1 million from its Bitcoin mining business. Core Scientific currently operates 10 data centers with a total power capacity of approximately 1.9 GW , and had approximately $ 1.04 billion in cash and Bitcoin liquidity at the end of the period.