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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4 — Balance Sheet Components
- BALANCE SHEET COMPONENTS
Customer funding receivable and other current assets as of September 30, 2025 and December 31, 2024 consisted of the following (in thousands):
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Customer funding receivable | $343,085 | $7,442 |
| Other | 23,150 | 35,647 |
| Total customer funding receivable and other current assets | $366,235 | $43,089 |
Customer funding receivable represents amounts due from our customer for construction related payables and accrued expenses incurred on their behalf. The Company collects these amounts from the customer prior to payment to vendors. As of September 30, 2025, approximately $220.0 million of the related obligations were included in accrued expenses and approximately $123.1 million were included in accounts payable.
Accrued expenses as of September 30, 2025 and December 31, 2024 consisted of the following (in thousands):
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Accrued customer funded construction | $220,036 | $— |
| Accrued capital expenditures | 67,142 | 12,106 |
| Accrued bonus | 34,616 | 17,614 |
| Other | 36,476 | 34,950 |
| Total accrued expenses | $358,270 | $64,670 |
Other noncurrent liabilities as of September 30, 2025 and December 31, 2024 consisted of the following (in thousands):
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Noncurrent deferred revenue | $260,348 | $— |
| Operating lease liabilities, net of current portion | 90,869 | 97,843 |
| Other | 13,370 | 15,315 |
| Total other noncurrent liabilities | $364,587 | $113,158 |
Noncurrent deferred revenue represents prepaid base license fees from our Colocation customer.
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