Core Scientific, Inc. provides net carbon-neutral blockchain infrastructure and digital asset mining solutions in North America. It operates in two segments, Equipment Sales and Hosting. It offers blockchain hosting services with deployment and provide power, racks, proprietary thermodynamic management, redundant connectivity, and 24/7 security, as well as its proprietary software platforms, such as Minder and MinderOS, which provides infrastructure management and custom firmware; and digital asset mining operation focuses on the generation of digital assets by solving complex cryptographic algorithms to validate transactions on specific digital asset network blockchains. The company also offers blockchain infrastructure and third-party hosting services through the sale of consumption-based contracts for its hosting services, as well as equipment sales to customers; and operates data centers in Georgia, Kentucky, North Carolina, North Dakota, and Texas. In addition, it provides hosting services to digital asset mining customers; deployment, monitoring, troubleshooting, optimization, and maintenance services for its customer's digital asset mining equipment; and electrical power and repair, and other infrastructure services to operate, maintain, and mine digital assets. The company is headquartered in Austin, Texas.
IPO Year:
Exchange: NASDAQ
Website: https://www.corescientific.com
Date | Price Target | Rating | Analyst |
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7/17/2024 | $20.00 | Overweight | Cantor Fitzgerald |
7/17/2024 | $13.00 | Neutral → Buy | B. Riley Securities |
7/10/2024 | $17.00 | Outperform | Bernstein |
7/2/2024 | $14.50 | Buy | Ladenburg Thalmann |
5/29/2024 | Neutral → Buy | BTIG Research | |
1/31/2024 | $1.00 → $8.50 | Neutral → Buy | Compass Point |
1/25/2024 | $5.00 | Neutral → Buy | H.C. Wainwright |
10/24/2022 | Neutral | DA Davidson | |
10/4/2022 | $3.00 | Overweight | Barclays |
9/27/2022 | $4.00 | Buy | Compass Point |
H.C. Wainwright & Co., LLC, a full-service investment bank dedicated to providing corporate finance, strategic advisory, and equity research coverage to public and private companies across multiple sectors and regions, is pleased to announce the following keynote speakers and Bitcoin Mining Panel as part of its 26th Annual Global Investment Conference, September 9-11, 2024 at the Lotte New York Palace Hotel. Vivek Ramaswamy, Founder, Roivant Sciences, Ltd. (NASDAQ:ROIV); Co-Founder, Strive Asset Management; Partner, QVT Financial LP; and former U.S. presidential candidate will deliver his keynote address at 4:00 p.m. Eastern Time on Monday, September 9. On Tuesday, September 10, preemin
NEWPORT BEACH, Calif., Aug. 20, 2024 (GLOBE NEWSWIRE) -- Gateway Group ("Gateway"), a leading financial communications and digital media advisory firm, today announced the presenting company lineup for the Artificial Intelligence (AI), Blockchain, and Digital Infrastructure Track at the 2024 Gateway Conference. Scheduled for Thursday, September 5th, the presentation format will showcase seven innovative publicly traded companies at the forefront of the technology sector at the Four Seasons Hotel in San Francisco. Featured CompaniesThe AI, Blockchain, and Digital Infrastructure Track will include presentations from: Applied Digital Corporation (NASDAQ:APLD) - A designer, builder, and oper
Repays $267 million in debt, reducing interest rate from approximately 12.5% to 3% Removes restrictive covenants associated with certain notes Increases cash on hand to fund site acquisitions for HPC hosting growth Core Scientific, Inc. (NASDAQ:CORZ) ("Core Scientific" or the "Company"), a leader in digital infrastructure for bitcoin mining and high-performance computing, today announced it has repaid a total of $267 million in debt with proceeds from its offering of convertible senior notes first announced on August 13, 2024, which closed on August 19, 2024. The Company repaid $150 million in secured notes, $61 million in an exit facility and $56 million in miner equipment loan
Core Scientific, Inc. (NASDAQ:CORZ) ("Core Scientific" or the "Company"), a leader in digital infrastructure for bitcoin mining and high-performance computing, today announced the pricing of its offering of $400 million aggregate principal amount of 3.00% convertible senior notes due 2029 (the "notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The offering size was increased from the previously announced offering size of $350 million aggregate principal amount of notes. The issuance and sale of the notes are scheduled to settle on August 19, 2024, subject to customary closing conditions.
Core Scientific, Inc. (NASDAQ:CORZ) ("Core Scientific" or "the Company"), a leader in digital infrastructure for bitcoin mining and high-performance computing, today announced that CEO Adam Sullivan will present at the 44th Annual Cannacord Growth Conference on August 14 at 9:30 a.m. ET. A live webcast of the presentation can be accessed by clicking this link and also by visiting the Investors section of the Core Scientific website. A replay of the webcast will be available for 90 days. About Core Scientific, Inc. Core Scientific is a leader in digital infrastructure for bitcoin mining and high-performance computing. We operate dedicated, purpose-built facilities for digital asset m
Core Scientific, Inc. (NASDAQ:CORZ) ("Core Scientific" or the "Company"), a leader in digital infrastructure for bitcoin mining and high-performance computing, today announced its intention to offer, subject to market and other conditions, $350.0 million aggregate principal amount of convertible senior notes due 2029 (the "notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Core Scientific also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $5
Fiscal Second Quarter 2024 Highlights Incurred net loss of $804.9 million due primarily to a net $796.0 million non-cash mark-to-market adjustment to our warrants and other contingent value right liabilities required as a result of significant quarter-over-quarter increase in the value of our equity Generated operating income of $6.6 million, a decrease of $2.9 million over second quarter 2023 Produced adjusted EBITDA of $46.0 million Contracted 382 megawatts of infrastructure to host high-performance computing ("HPC"), including latest contract option exercise, for total potential revenue of approximately $6.7 billion over 12 years Achieved mandatory conversion of convertibl
Expands Total Contracted HPC Infrastructure by CoreWeave to 382 Megawatts at Five Core Scientific sites Increases Potential Cumulative Revenue to More than $6.7 Billion over 12 Years Core Scientific Actively Seeking Additional Sites to Expand HPC Hosting Capacity beyond Original 500 Megawatts Core Scientific, Inc. (NASDAQ:CORZ) ("Core Scientific" or the "Company"), a leader in digital infrastructure for bitcoin mining and high-performance computing, today announced that CoreWeave, the AI Hyperscaler, has exercised its option to contract for additional infrastructure pursuant to the terms provided as part of the previously announced 200 megawatt ("MW") hosting contract for high perform
Earned 411 Self-Mined Bitcoin for a Total of 4,917 Bitcoin Year-to-Date and Our Customers Earned an Estimated 110 Bitcoin at Our Data Centers in July First Bitcoin Miner to Support Foundry Donate, a Program to Fund Bitcoin Network Core Developers Core Scientific, Inc. (NASDAQ:CORZ) ("Core Scientific" or "the Company"), a leader in digital infrastructure for bitcoin mining and high-performance computing, today released unaudited production and operations updates for July 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240805137412/en/Core Scientific is a leader in digital infrastructure for bitcoin mining and high-perfor
Core Scientific, Inc. (NASDAQ:CORZ) ("Core Scientific" or "the Company"), a leader in digital infrastructure for bitcoin mining and high-performance computing, today announced it will issue financial results for the Company's fiscal year 2024 second quarter after financial markets close on Wednesday, August 7, 2024. Management will host a conference call and live audio webcast to discuss the results at 3:30 p.m. Central Time. Hosting the call and webcast to review results for the Company's fiscal 2024 second quarter will be Adam Sullivan, Chief Executive Officer, Denise Sterling, Chief Financial Officer, and Steven A. Gitlin, Senior Vice President, Investor Relations. Conference Call an
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Fiscal Second Quarter 2024 Highlights Incurred net loss of $804.9 million due primarily to a net $796.0 million non-cash mark-to-market adjustment to our warrants and other contingent value right liabilities required as a result of significant quarter-over-quarter increase in the value of our equity Generated operating income of $6.6 million, a decrease of $2.9 million over second quarter 2023 Produced adjusted EBITDA of $46.0 million Contracted 382 megawatts of infrastructure to host high-performance computing ("HPC"), including latest contract option exercise, for total potential revenue of approximately $6.7 billion over 12 years Achieved mandatory conversion of convertibl
Core Scientific, Inc. (NASDAQ:CORZ) ("Core Scientific" or "the Company"), a leader in digital infrastructure for bitcoin mining and high-performance computing, today announced it will issue financial results for the Company's fiscal year 2024 second quarter after financial markets close on Wednesday, August 7, 2024. Management will host a conference call and live audio webcast to discuss the results at 3:30 p.m. Central Time. Hosting the call and webcast to review results for the Company's fiscal 2024 second quarter will be Adam Sullivan, Chief Executive Officer, Denise Sterling, Chief Financial Officer, and Steven A. Gitlin, Senior Vice President, Investor Relations. Conference Call an
Core Scientific, Inc. (NASDAQ:CORZ) ("Core Scientific" or "the Company"), one of the largest owners and operators of high-powered digital infrastructure for bitcoin mining and hosting services in North America, today announced it will webcast live its Investor and Analyst presentation on June 12, 2024. The presentation is scheduled to begin at approximately 11:15 am CT and end by approximately 1:15 pm CT, and will feature Chief Executive Officer Adam Sullivan, Chief Financial Officer Denise Sterling, Executive Vice President of Data Center Operations Matt Brown and other members of the management team. Listeners may access the webcast and slide presentation by clicking here or may listen
Fiscal First Quarter 2024 Highlights Generated net income of $210.7 million, including a gain on extinguishment of prior obligations of $143.8 million Produced adjusted EBITDA of $88.0 million Strengthened the balance sheet, ending the quarter with $98.1 million in cash and cash equivalents Earned 2,825 self-mined bitcoin, more than any other publicly listed miner in North America Operated total hash rate of 25.5 EH/s, consisting of 19.3 EH/s self-mining and 6.2 EH/s hosting Owned and managed approximately 745 megawatts of infrastructure, the largest owned infrastructure footprint among publicly listed miners in North America Improved average actual self-mining fleet en
Earned 803 self-mined bitcoin for a total of 3,628 bitcoin year-to-date, and our customers earned an estimated 265 bitcoin at our data centers in April Completed deployment of 2.5 EH/s of S21 miners from previously announced order Operated approximately 224,000 owned and hosted bitcoin miners for a total energized hash rate of 26.7 exahash as of April 30, 2024 Core Scientific, Inc. (NASDAQ:CORZ) ("Core Scientific" or "the Company"), a leader in bitcoin mining, specializing in application-specific digital infrastructure for emerging high-value compute, today released unaudited production and operations updates for April 2024. This press release features multimedia. View the full r
Core Scientific, Inc. (NASDAQ:CORZ) ("Core Scientific" or "the Company"), a leader in bitcoin mining and application-specific digital infrastructure for emerging high-value compute, today announced it will issue financial results for the Company's first quarter fiscal year 2024 after financial markets close on Wednesday, May 8, 2024. Management will host a conference call and live audio webcast to discuss the results at 3:30 p.m. Central Time. Hosting the call and webcast to review results for the first quarter 2024 will be Adam Sullivan, Chief Executive Officer, Denise Sterling, Chief Financial Officer, and Steven A. Gitlin, Senior Vice President, Investor Relations. Conference Call an
Fiscal Year 2023 Highlights A total of 19,274 bitcoin earned in our data centers; 13,762 bitcoin by self-mining for our account, more than any other publicly listed miner in North America, and an estimated 5,512 for our hosting clients' accounts Operated total hash rate of 23.2 EH/s, consisting of 16.9 EH/s self-mining and 6.3 EH/s hosting Owned and managed 724 megawatts of infrastructure, the largest owned infrastructure footprint among publicly listed miners in North America Improved average self-mining fleet energy efficiency to 27.94 joules per terahash Developed organic growth plan for more than 20 EH/s of new self-mining hash rate Core Scientific, Inc. (NASDAQ:CORZ),
Record Quarterly Net Investment Income of $25.1 Million in Q4 Record Annual Net Investment Income of $89.9 Million in 2023 Return on Average Equity Hits 16.9% in Q4 PHOENIX, March 6, 2024 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ:TRIN) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced its financial results for the fourth quarter and year ended December 31, 2023. Fourth Quarter 2023 Highlights Record total investment income of $47.8 million, an increase of 15.2% year-over-yearRecord net investment
Core Scientific, Inc. (NASDAQ:CORZ, CORZW, CORZZ))) ("Core Scientific" or "the Company"), a leader in bitcoin mining and digital infrastructure for emerging high-value compute, today announced it will issue financial results for the Company's full fiscal year ended December 31, 2023 after financial markets close on Tuesday, March 12, 2024. Management will host a conference call and live audio webcast to discuss the results at 3:30 p.m. Central Time. Hosting the call and webcast to review results for the full fiscal year will be Adam Sullivan, Chief Executive Officer, Denise Sterling, Chief Financial Officer, and Steven A. Gitlin, Senior Vice President, Investor Relations. Conference Cal
Core Scientific, Inc. (NASDAQ:CORZ) ("Core Scientific" or "the Company"), a leader in high-performance blockchain data centers and software solutions, today announced it will issue financial results for the Company's second quarter after the market closes on Thursday, August 11, 2022. Management will host a conference call and live audio webcast to discuss the results at 3:30 p.m. Central Time that day. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220728005204/en/Core Scientific's Marble, NC Data Center (Graphic: Business Wire) Hosting the call to review results for the second quarter will be Mike Levitt, Co-Chairman and Chief
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Iris Energy (NASDAQ:IREN) is back in the spotlight, with analysts at Canaccord singing its praises for its efficient Bitcoin mining capabilities and potential for future diversification. What Happened: Citing the company’s massive power capacity and ongoing data center construction, Canaccord raised its share price target for Iris Energy to $15, up from $12, Coindesk reported. “The company is building a massive 510 megawatts (MW) of data centers in 2024 alone,” explained lead analyst Joseph Vafi in the report. “On top of that, they’ve secured a staggering 2,160 MW of power capacity and have a 1 gigawatt (GW) plus development pipeline.” This puts Iris Energy in a league of its o
In the run-up to the upcoming 2024 elections, analysts from research and brokerage firm Bernstein have suggested that Bitcoin (CRYPTO: BTC) traders may not have fully considered the possible victory of former President Donald Trump, an event that could significantly shake up the cryptocurrency market. What Happened: The Bernstein team, led by Gautam Chhugani, posits that the market has not accounted for a potential positive shift in cryptocurrency regulations if Trump is reelected in November, a Decrypt report stated Monday. They anticipate significant growth stemming from institutional investors allocating to cryptocurrency and associated stocks. Bernstein analysts are keeping a close
Cantor Fitzgerald analyst Brett Knoblauch initiated coverage on Core Scientific, Inc. (NASDAQ:CORZ), with a price forecast of $20. According to the analyst, Bitcoin miners currently have one of the most coveted assets in the world – access to power. In June 2024, Core Scientific announced a deal with CoreWeave (private), following which shares went up meaningfully. With CoreWeave, Core Scientific was the first Bitcoin miner to sign a meaningful AI/HPC deal. In what has now been extended, CoreWeave will lease 270 MW from Core Scientific for 12 years, and pay the company a total of $4.725 billion over that duration, amounting to ~$1.45 million per MW. Also Read: Block and Core S
B. Riley Securities analyst Lucas Pipes upgrades Core Scientific (NASDAQ:CORZ) from Neutral to Buy and raises the price target from $0.5 to $13.
Cantor Fitzgerald analyst Brett Knoblauch initiates coverage on Core Scientific (NASDAQ:CORZ) with a Overweight rating and announces Price Target of $20.
This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. Below are some instances of options activity happening in the Information Technology sector: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume NVDA CALL TRADE NEUTRAL 07/19/24 $127.00 $33.8K 15.3K 68.8K MARA CALL SWEE
Investors with a lot of money to spend have taken a bearish stance on Core Scientific (NASDAQ:CORZ). And retail traders should know. We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CORZ, it often means somebody knows something is about to happen. Today, Benzinga's options scanner spotted 22 options trades for Core Scientific. This isn't normal. The overall sentiment of these big-money traders is split between 31% bullish and 59%, bearish. Out of all of the options we uncovered, there was 1 put, for a total
The week was a rollercoaster ride in the world of cryptocurrency. From former President Donald Trump‘s significant crypto losses to the ambitious plans of Shiba Inu developers, the crypto market was anything but dull. Robert Kiyosaki, the author of ‘Rich Dad Poor Dad,’ continued to advocate for Bitcoin despite a seemingly unattainable prediction. Meanwhile, Jack Dorsey‘s Block made a historic sale to Core Scientific, and a Bitcoin indicator suggested that the best is yet to come. Let’s dive into the details. Trump’s Crypto Portfolio Takes a Hit: Trump’s crypto ventures have seen significant fluctuations, mirroring his political career. His public crypto portfolio, largely comprising Trump
Analysts at Bernstein on have rebutted Culper Research’s negative report on Iris Energy Ltd (NASDAQ:IREN), defending the company’s AI and bitcoin mining prospects. What Happened: On Thursday, IREN fell over 13% following Culper’s report, which claimed IREN shares were overvalued by 52% to 79%, The Block reported. Culper valued Iris Energy’s crypto mining operations between $0 and $100 million. Iris Energy has responded to the Culper Research report, with a spokesperson telling Benzinga, "As a public company we are limited in how much we can say about reports of a certain nature. We encourage debate and value intellectually honest discourse. However, not all engagement meets these stand
The Nasdaq 100 closed higher by more than 1% on Wednesday. Investors, meanwhile, focused on some notable insider trades. When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision. Below is a look at a few recent notable insider sales. For more, check out Benzinga’s insider transactions platform. Best Buy The Trade: Best Buy Co., Inc. (NYSE:BBY) SEVP Cust. Offerings & Fulfill Jason J Bonfig sold a total of 3,500 shares a
Cantor Fitzgerald initiated coverage of Core Scientific with a rating of Overweight and set a new price target of $20.00
B. Riley Securities upgraded Core Scientific from Neutral to Buy and set a new price target of $13.00
Bernstein initiated coverage of Core Scientific with a rating of Outperform and set a new price target of $17.00
Ladenburg Thalmann resumed coverage of Core Scientific with a rating of Buy and set a new price target of $14.50
BTIG Research upgraded Core Scientific (CORZQ) from Neutral to Buy
Compass Point upgraded Core Scientific from Neutral to Buy and set a new price target of $8.50 from $1.00 previously
H.C. Wainwright upgraded Core Scientific from Neutral to Buy and set a new price target of $5.00
DA Davidson initiated coverage of Core Scientific with a rating of Neutral
Barclays initiated coverage of Core Scientific with a rating of Overweight and set a new price target of $3.00
Compass Point initiated coverage of Core Scientific with a rating of Buy and set a new price target of $4.00