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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and Core Scientific, Inc. (CORZ). Click either name above to swap in a different company.
Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $79.8M, roughly 2.0× Core Scientific, Inc.). Core Scientific, Inc. runs the higher net margin — 268.5% vs 3.4%, a 265.1% gap on every dollar of revenue. On growth, Bitcoin Depot Inc. posted the faster year-over-year revenue change (20.1% vs -16.0%). Bitcoin Depot Inc. produced more free cash flow last quarter ($2.5M vs $-450.8M). Over the past eight quarters, Bitcoin Depot Inc.'s revenue compounded faster (-4.9% CAGR vs -33.3%).
Bitcoin Depot Inc. is one of the largest cryptocurrency ATM operators across North America. It provides retail consumers with accessible in-person kiosks to buy and sell Bitcoin and other leading digital assets, alongside online crypto purchase services via bank transfer. Its self-service kiosks are located in high-traffic retail spaces including grocery stores, gas stations and convenience stores.
Core Scientific is a leading digital asset and high-performance computing infrastructure provider. It operates large energy-efficient data centers across North America, offering cryptocurrency mining services, colocation hosting for blockchain and AI clients, and custom high-performance computing solutions for enterprise tech segments.
BTM vs CORZ — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $79.8M |
| Net Profit | $5.5M | $214.2M |
| Gross Margin | — | 26.0% |
| Operating Margin | 7.3% | -149.5% |
| Net Margin | 3.4% | 268.5% |
| Revenue YoY | 20.1% | -16.0% |
| Net Profit YoY | 690.4% | 180.6% |
| EPS (diluted) | $0.08 | $-1.63 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $79.8M | ||
| Q3 25 | $162.5M | $81.1M | ||
| Q2 25 | $172.1M | $78.6M | ||
| Q1 25 | $164.2M | $79.5M | ||
| Q4 24 | — | $94.9M | ||
| Q3 24 | $135.3M | $95.4M | ||
| Q2 24 | $163.1M | $141.1M | ||
| Q1 24 | $138.5M | $179.3M |
| Q4 25 | — | $214.2M | ||
| Q3 25 | $5.5M | $-144.0M | ||
| Q2 25 | $6.1M | $-936.8M | ||
| Q1 25 | $4.2M | $576.3M | ||
| Q4 24 | — | $-265.5M | ||
| Q3 24 | $-939.0K | $-455.3M | ||
| Q2 24 | $-2.6M | $-902.2M | ||
| Q1 24 | $-1.5M | $210.7M |
| Q4 25 | — | 26.0% | ||
| Q3 25 | — | 4.8% | ||
| Q2 25 | — | 6.4% | ||
| Q1 25 | — | 10.3% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | -0.2% | ||
| Q2 24 | — | 27.5% | ||
| Q1 24 | — | 43.3% |
| Q4 25 | — | -149.5% | ||
| Q3 25 | 7.3% | -67.6% | ||
| Q2 25 | 9.2% | -33.4% | ||
| Q1 25 | 10.8% | -59.1% | ||
| Q4 24 | — | -41.9% | ||
| Q3 24 | 4.1% | -43.2% | ||
| Q2 24 | 4.7% | -64.3% | ||
| Q1 24 | 0.5% | 30.8% |
| Q4 25 | — | 268.5% | ||
| Q3 25 | 3.4% | -177.6% | ||
| Q2 25 | 3.5% | -1191.4% | ||
| Q1 25 | 2.6% | 724.6% | ||
| Q4 24 | — | -279.7% | ||
| Q3 24 | -0.7% | -477.4% | ||
| Q2 24 | -1.6% | -639.4% | ||
| Q1 24 | -1.1% | 117.5% |
| Q4 25 | — | $-1.63 | ||
| Q3 25 | $0.08 | $-0.45 | ||
| Q2 25 | $0.16 | $-0.04 | ||
| Q1 25 | $0.20 | $1.24 | ||
| Q4 24 | — | $0.51 | ||
| Q3 24 | $-0.05 | $-1.17 | ||
| Q2 24 | $-0.13 | $-5.05 | ||
| Q1 24 | $-0.25 | $0.78 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $59.3M | $311.4M |
| Total DebtLower is stronger | $67.5M | — |
| Stockholders' EquityBook value | $21.0M | $-962.7M |
| Total Assets | $125.3M | $2.3B |
| Debt / EquityLower = less leverage | 3.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $311.4M | ||
| Q3 25 | $59.3M | $453.4M | ||
| Q2 25 | $48.0M | $581.3M | ||
| Q1 25 | $35.0M | $697.9M | ||
| Q4 24 | — | $836.2M | ||
| Q3 24 | $32.2M | $253.0M | ||
| Q2 24 | $43.9M | $96.1M | ||
| Q1 24 | $42.2M | $98.1M |
| Q4 25 | — | — | ||
| Q3 25 | $67.5M | — | ||
| Q2 25 | $66.5M | — | ||
| Q1 25 | $56.2M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $44.5M | — | ||
| Q2 24 | $41.2M | — | ||
| Q1 24 | $37.6M | — |
| Q4 25 | — | $-962.7M | ||
| Q3 25 | $21.0M | $-1.3B | ||
| Q2 25 | $4.7M | $-1.2B | ||
| Q1 25 | $-4.6M | $-308.8M | ||
| Q4 24 | — | $-943.0M | ||
| Q3 24 | $-7.9M | $-826.7M | ||
| Q2 24 | $4.4M | $-1.2B | ||
| Q1 24 | $5.0M | $-318.5M |
| Q4 25 | — | $2.3B | ||
| Q3 25 | $125.3M | $2.2B | ||
| Q2 25 | $109.1M | $1.9B | ||
| Q1 25 | $89.7M | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | $87.4M | $824.6M | ||
| Q2 24 | $97.5M | $664.2M | ||
| Q1 24 | $90.1M | $814.0M |
| Q4 25 | — | — | ||
| Q3 25 | 3.21× | — | ||
| Q2 25 | 14.18× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 9.27× | — | ||
| Q1 24 | 7.54× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $6.6M | $278.3M |
| Free Cash FlowOCF − Capex | $2.5M | $-450.8M |
| FCF MarginFCF / Revenue | 1.6% | -565.1% |
| Capex IntensityCapex / Revenue | 2.5% | 914.0% |
| Cash ConversionOCF / Net Profit | 1.20× | 1.30× |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | $-779.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $278.3M | ||
| Q3 25 | $6.6M | $131.8M | ||
| Q2 25 | $10.2M | $34.0M | ||
| Q1 25 | $16.3M | $-45.0M | ||
| Q4 24 | — | $42.9M | ||
| Q3 24 | $5.8M | $5.7M | ||
| Q2 24 | $10.1M | $1.2M | ||
| Q1 24 | $1.3M | $22.2M |
| Q4 25 | — | $-450.8M | ||
| Q3 25 | $2.5M | $-112.7M | ||
| Q2 25 | $9.8M | $-87.3M | ||
| Q1 25 | $15.9M | $-129.0M | ||
| Q4 24 | — | $-52.1M | ||
| Q3 24 | $-1.0M | $-25.5M | ||
| Q2 24 | $7.6M | $-1.9M | ||
| Q1 24 | $789.0K | $-9.7M |
| Q4 25 | — | -565.1% | ||
| Q3 25 | 1.6% | -139.0% | ||
| Q2 25 | 5.7% | -111.0% | ||
| Q1 25 | 9.7% | -162.2% | ||
| Q4 24 | — | -54.8% | ||
| Q3 24 | -0.8% | -26.7% | ||
| Q2 24 | 4.7% | -1.4% | ||
| Q1 24 | 0.6% | -5.4% |
| Q4 25 | — | 914.0% | ||
| Q3 25 | 2.5% | 301.5% | ||
| Q2 25 | 0.2% | 154.2% | ||
| Q1 25 | 0.2% | 105.6% | ||
| Q4 24 | — | 100.0% | ||
| Q3 24 | 5.0% | 32.7% | ||
| Q2 24 | 1.5% | 2.2% | ||
| Q1 24 | 0.4% | 17.8% |
| Q4 25 | — | 1.30× | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.67× | — | ||
| Q1 25 | 3.88× | -0.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTM
Segment breakdown not available.
CORZ
| Other | $36.3M | 46% |
| Digital Asset Self Mining Service | $31.8M | 40% |
| Colocation Service | $11.6M | 15% |
