Why Pure Bitcoin Mining Barely Works Anymore
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The Wolf Of All Streets30 Jul 2026, 22:02 UTC
AI-generated source summary
Core Scientific's Q2 2026 financial report indicates a total revenue of $164.2 million, with $136.7 million derived from AI density and colocation services, and $21.5 million from Bitcoin self-mining. The cost of Bitcoin mining was $33.7 million, and corporate expenses were $12.2 million. The company spent $12.2 million more on mining Bitcoin than the revenue generated from corporate mining before corporate expenses. This highlights the challenge for pure Bitcoin miners in the current industry, especially during price downturns. Despite this, the analysis suggests a bullish outlook for Core Scientific stock, with a target of $8.0 and a failure bound at $5.0. Similarly, Bitcoin (BTCUSD) is predicted to be bullish, targeting $75,000 with a failure bound at $60,000, implying that the overall crypto market sentiment is positive and expected to support related assets like Core Scientific.
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