Core Scientific, Inc./tx
For the period ended Jun 30, 2026. Filed Jul 28, 2026.
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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.
Jun 30, 2026 · Filed Jul 28, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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6 — Leases
- LEASES
Lessee Accounting
The Company leases data center facilities, land, office space, and computer and networking equipment. The following table presents the components of operating and finance leases at the dates indicated (in thousands):
| Financial statement line item | June 30, 2026 | December 31, 2025 | |
|---|---|---|---|
| Assets: | |||
| Operating lease right-of-use assets | Operating lease right-of-use assets | $114,199 | $108,484 |
| Finance lease right-of-use assets | Other noncurrent assets | $1,652 | $1,843 |
| Liabilities: | |||
| Operating lease liabilities, current portion | Other current liabilities | $13,456 | $12,343 |
| Operating lease liabilities, net of current portion | Other noncurrent liabilities | $95,043 | $89,011 |
| Finance lease liabilities, net of current portion | Other noncurrent liabilities | $876 | $844 |
The following table presents the components of lease expense for the periods indicated (in thousands):
| Three Months Ended June 30, · Six Months Ended June 30, | |||||
|---|---|---|---|---|---|
| Financial statement line item | 2026 | 2025 | 2026 | 2025 | |
| Operating lease expense | Cost of colocation services | $3,863 | $3,402 | $7,649 | $6,809 |
| Operating lease expense | Cost of digital asset self-mining | 113 | 76 | 215 | 160 |
| Operating lease expense | Cost of digital asset hosted mining services | 15 | 8 | 27 | 14 |
| Operating lease expense | Selling, general and administrative | 205 | 1,218 | 368 | 2,425 |
| Short-term lease expense | Cost of digital asset self-mining | 100 | 339 | 242 | 625 |
| Variable lease expense | Cost of colocation services | 447 | 304 | 832 | 573 |
| Finance lease expense: | |||||
| Amortization of right-of-use assets | Cost of digital asset self-mining | 95 | 170 | 191 | 396 |
| Interest on lease liabilities | Interest expense (income), net | 16 | 30 | 32 | 79 |
| Total finance lease expense | 111 | 200 | 223 | 475 | |
| Total lease expense | $4,854 | $5,547 | $9,556 | $11,081 | |
The following table presents information relating to the lease term and discount rate at the dates indicated:
| June 30, 2026 | June 30, 2025 | |
|---|---|---|
| Weighted Average Remaining Lease Term (Years) | ||
| Operating leases | 7.1 | 8.1 |
| Finance leases | 4.4 | 0.2 |
| Weighted Average Discount Rate | ||
| Operating leases | 8.3% | 8.5% |
| Finance leases | 7.4% | 12.7% |
The following table presents additional information relating to operating and finance leases for the periods indicated (in thousands):
| Six Months Ended June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Lease Payments | ||
| Operating cash flows from operating leases | $10,185 | $7,547 |
| Operating cash flows from finance leases | $5 | $71 |
| Financing cash flows from finance leases | $1,095 | $1,125 |
| Supplemental Non-cash Information | ||
| Operating lease right-of-use assets obtained in exchange for lease obligations | $13,440 | $109 |
The following table presents the Company’s future minimum payments under noncancelable operating and finance leases having terms in excess of one year as of June 30, 2026 (in thousands):
| Operating Leases · Finance Leases | ||
|---|---|---|
| Remaining 2026 | $10,354 | $— |
| 2027 | 22,957 | — |
| 2028 | 23,568 | 257 |
| 2029 | 23,309 | 440 |
| 2030 | 23,470 | 404 |
| Thereafter | 40,809 | — |
| Total lease payments | 144,467 | 1,101 |
| Less: imputed interest | 35,968 | 225 |
| Total | $108,499 | $876 |
Lessor Accounting
The Company generates revenue by leasing property to a customer under licensing agreements. The manner in which the Company recognizes these transactions in its financial statements is described in Note 2 — Summary of Significant Accounting Policies, Revenue Recognition — Colocation Segment of the Form 10-K for the fiscal year ended December 31, 2025. Lease revenue is included within Colocation revenue in the condensed consolidated statements of operations. The carrying value of property, plant and equipment subject to operating leases with customers is presented in Note 4 — Property, Plant, and Equipment.
The following table presents the components of lease revenue for the periods indicated (in thousands):
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Operating lease revenue | $98,812 | $7,010 | $158,008 | $13,005 |
| Variable lease revenue | 37,857 | 3,550 | 56,200 | 6,128 |
| Total lease revenue | $136,669 | $10,560 | $214,208 | $19,133 |
The following table represents future operating lease payments expected to be received as of June 30, 2026 (in thousands):
| Operating Leases(1) | |
|---|---|
| Remaining 2026 | $132,281 |
| 2027 | 271,468 |
| 2028 | 368,963 |
| 2029 | 527,771 |
| 2030 | 546,112 |
| Thereafter | 4,241,072 |
| Total | $6,087,667 |
(1)Operating lease payments expected to be received exclude $3.1 billion in total future noncancellable operating lease payments expected to be received for operating leases that have not yet commenced as of June 30, 2026, which have initial lease terms of 12 years from commencement.
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