Core Scientific, Inc./tx

13. NET INCOME (LOSS) PER SHARE

Basic EPS is measured as the net income (loss) available to common stockholders divided by the weighted average common shares outstanding for the period. Diluted EPS reflects the potential dilution from unvested RSUs, PSUs, and MSUs, conversion of convertible securities using the if-converted method, and exercise of options and warrants using the treasury stock method. When potentially dilutive securities have an antidilutive effect, they are excluded from the diluted EPS calculation.

Upon exercise of the Tranche 2 Warrants, shares are issuable for little or no consideration, sometimes referred to as “penny warrants”. Under ASC 260-10-45-13, those issuable shares are considered outstanding in the computation of basic EPS whether or not related warrants have been exercised. At September 30, 2026, approximately 6.3 million shares of common stock remain issuable upon the exercise of the Tranche 2 Warrants and are included in weighted average shares outstanding for the three and nine months then ended. The basic EPS numerator is adjusted to eliminate changes in fair value of Tranche 2 Warrants recognized in net income (loss).

The following table presents the reconciliation of the numerators and denominators used to compute basic and diluted net income (loss) per share for the periods indicated (in thousands, except per share amounts):

The following table presents shares issuable from potentially dilutive securities outstanding at the dates indicated, which were excluded from the calculation of diluted EPS for periods in which their inclusion would have been antidilutive (in thousands):