Core Scientific and TeraWulf recorded a combined profit of nearly $1.9 billion in the third quarter, driven primarily by non-cash revaluation gains. Both Bitcoin mining companies are transitioning toward AI data center hosting. Specifically, Core Scientific posted a net profit of $1.178 billion (including $1.034 billion in pre-tax non-cash revaluation gains), while TeraWulf recorded a net profit of $710 million (including $728 million in pre-tax non-cash revaluation gains). These revaluation gains stemmed mainly from the remeasurement of options and warrants. In terms of operational results, Core Scientific achieved an operating profit of $72 million, whereas TeraWulf recorded an operating loss of $88 million.