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Core Scientific, Inc./tx vs Iren: CORZ and IREN compared
Core Scientific, Inc./tx is the larger company: $233M of revenue in its latest quarter (Q3 2026) against $228M for Iren (Q1 FY27). Core Scientific, Inc./tx is growing faster (+187% against -5% a year earlier). Core Scientific, Inc./tx is more profitable, with an operating margin of 31.1% against -81.6%.
Where the money goes: CORZ and IREN
Core Scientific, Inc./tx (CORZ) · Q3 2026
Core Scientific, Inc./tx, Q3 2026: revenue $233M (+187% year over year), operating margin 31.1%, net earnings $1.2B, operating cash flow $65.3M. The chart follows the revenue to costs, profit and cash.
Iren (IREN) · Q1 FY27
Iren, Q1 FY27: revenue $228M (-5% year over year), operating margin -81.6%, net loss $263M, operating cash flow $529M. The chart follows the revenue to costs, profit and cash.
| Core Scientific, Inc./tx (CORZ) | Iren (IREN) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q1 FY27 |
| Revenue | $233M | $228M |
| Revenue growth, Y/Y | +187% | -5% |
| Gross margin | 52.9% | — |
| Operating margin | 31.1% | -81.6% |
| Net earnings | $1.2B | −$263M |
| Net margin | 505.9% | -115.4% |
| Operating cash flow | $65.3M | $529M |
| Market value | $5.0B | — |
| Analysts’ mean target | $28.48 | — |
Where the revenue comes from
Iren
- AI Cloud Services: $135M (59%)
- AI Cloud Lease: $65.0M (29%)
- Other revenues: $28.0M (12%)
Questions
Which is bigger, Core Scientific, Inc./tx or Iren?
Core Scientific, Inc./tx is the larger company: $233M of revenue in its latest quarter (Q3 2026) against $228M for Iren (Q1 FY27).
Is Core Scientific, Inc./tx or Iren growing faster?
Core Scientific, Inc./tx is growing faster (+187% against -5% a year earlier).
Which is more profitable, Core Scientific, Inc./tx or Iren?
Core Scientific, Inc./tx is more profitable, with an operating margin of 31.1% against -81.6%.
More: Core Scientific, Inc./tx earnings · how Core Scientific, Inc./tx makes money · Iren earnings · how Iren makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.