Core Scientific, Inc./tx
For the period ended Sep 30, 2025. Filed Oct 24, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 24, 2025
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3 — Property, Plant, and Equipment
- PROPERTY, PLANT, AND EQUIPMENT
Property, plant and equipment, net as of September 30, 2025 and December 31, 2024 consist of the following (in thousands):
| September 30, 2025 | December 31, 2024 | Estimated Useful Lives | |
|---|---|---|---|
| Land and improvements1 | $49,221 | $23,667 | 20 years |
| Building and improvements | 279,530 | 256,086 | 10 to 39 years |
| Mining and network equipment | 390,848 | 414,173 | 3 to 5 years |
| Electrical equipment | 82,470 | 82,598 | 15 years |
| Other property, plant and equipment | 3,087 | 2,884 | 5 to 7 years |
| Total | 805,156 | 779,408 | |
| Less: accumulated depreciation and amortization | 415,047 | 385,922 | |
| Total | 390,109 | 393,486 | |
| Add: Construction in progress | 688,694 | 162,856 | |
| Property, plant and equipment, net | $1,078,803 | $556,342 |
1 Estimated useful life of improvements. Land is not depreciated.
Depreciation expense for the three months ended September 30, 2025 and 2024, was $16.1 million and $28.5 million, respectively, and for the nine months ended September 30, 2025 and 2024, was $54.3 million and $86.6 million, respectively.
During the three months ended September 30, 2025 and 2024, $35.4 million and $0.4 million, respectively, of construction in progress was placed into service. During the nine months ended September 30, 2025 and 2024, $47.5 million and $140.3 million, respectively, of construction in progress was placed into service.
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