Core Scientific: Q2 mining output fell 62% year-on-year, and the merger transaction with CoreWeave still needs shareholder approval

PANews reported on August 9 that according to Businesswire, Nasdaq-listed Bitcoin mining company Core Scientific announced its financial results for the second quarter of fiscal year 2025, which disclosed that its mining revenue in the second quarter was US$62.4 million, down from US$110.7 million in the same period last year, mainly due to a 62% drop in Bitcoin mining output; in addition, the company's digital asset custody mining revenue was US$5.6 million, also down from US$24.8 million in the same period last year, and its gross profit was US$5 million, compared with US$38.8 million in the same period last year.

In response to market concerns regarding opposition to the all-stock sale to CoreWeave, Core Scientific responded that the transaction is pending and requires approval from the company's shareholders and customary closing conditions, including applicable regulatory approvals.