Core Scientific, Inc./tx

6. 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):

The following table presents the components of lease expense for the periods indicated (in thousands):

The following table presents information relating to the lease term and discount rate at the dates indicated:

The following table presents additional information relating to operating and finance leases for the periods indicated (in thousands):

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 September 30, 2026 (in thousands):

Lessor Accounting

The Company generates revenue by leasing property to customers under licensing agreements. The manner in which the Company recognizes these transactions in its consolidated 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.

In July 2026, the Company entered into lease agreements with AMD and a Neocloud counterparty (collectively, the "AMD Leases") for an aggregate of approximately 530 MW of critical IT capacity across five of the Company's sites. AMD was provided with a reservation capacity right to lease from the Company at certain times and circumstances an additional 1,925 MW of critical IT capacity through December 28, 2028. The AMD Leases are expected to commence in phases beginning in 2027 as the contracted capacity is completed and the applicable lease commencement conditions are satisfied, and the Company will determine the classification of each AMD Lease at commencement. Each AMD Lease is for afifteen-year term with three five-year options. As of September 30, 2026, none of the AMD Leases had commenced, no related lease revenue had been recognized, and amounts related to the AMD Leases are not included in the tables below.

The following table presents the components of lease revenue for the periods indicated (in thousands):

The following table represents future operating lease payments expected to be received as of September 30, 2026 (in thousands):

(1)Operating lease payments expected to be received exclude $1.8 billion in total future noncancellable operating lease payments expected to be received for CoreWeave operating leases that have not yet commenced as of September 30, 2026, which have initial lease terms of 12 years from commencement.