Core Scientific, Inc.
- Open
- 25.62
- Day high
- 26.07
- Day low
- 24.67
- Prev close
- 25.94
- Volume
- 12.6M
- Mkt cap
- $8.1B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -6.2
- P/S
- 22.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$2.5M over the last 3 months (0 open-market buys, 18 sales)
- 🏛Institutions accumulating (13F)
Core Scientific, Inc. (CORZ) is a Technology company listed on NASDAQ. The stock is up 48% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 18 sales (SEC Form 4). Drillr has 1 published research article covering CORZ.
Core Scientific, Inc. (CORZ) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 7 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CORZ earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $-0.02 | $-0.10 | -400.0% | $115M | -1.5% |
| Oct 24, 2025 | $-0.07 | $-0.46 | -558.9% | $81M | -27.6% |
| Aug 8, 2025 | $-0.07 | $-0.04 | +42.9% | $79M | -29.4% |
| May 7, 2025 | $-0.12 | $-0.10 | +16.7% | $80M | -6.6% |
| Feb 26, 2025 | $-0.10 | $-0.01 | +90.0% | $95M | -2.2% |
| Mar 12, 2024 | $-0.03 | $-0.20 | -566.7% | $142M | +4.1% |
| Dec 4, 2023 | — | $-0.11 | — | $113M | — |
| Aug 4, 2023 | — | $-0.02 | — | $127M | — |
| May 12, 2023 | — | $-0.03 | — | $121M | — |
| Nov 28, 2022 | $-0.17 | $-1.23 | -623.5% | $163M | — |
| Aug 11, 2022 | $-0.03 | $-2.65 | -7671.3% | $164M | — |
| May 12, 2022 | $0.16 | $-1.52 | -1050.0% | $193M | +0.0% |
CORZ insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 24, 2026 | DUCHENE TODD Mofficer: See remarks | Sell | 2,400 | $29.88 |
| Jun 24, 2026 | DUCHENE TODD Mofficer: See remarks | Sell | 7,600 | $29.11 |
| Jun 17, 2026 | DUCHENE TODD Mofficer: See remarks | Sell | 9,900 | $28.19 |
| Jun 17, 2026 | DUCHENE TODD Mofficer: See remarks | Sell | 100 | $28.79 |
| Jun 10, 2026 | DUCHENE TODD Mofficer: See remarks | Sell | 4,500 | $27.11 |
| Jun 10, 2026 | DUCHENE TODD Mofficer: See remarks | Sell | 5,500 | $26.64 |
| May 28, 2026 | DUCHENE TODD Mofficer: See remarks | Sell | 10,000 | $26.25 |
| May 28, 2026 | Smith Stephen Mdirector | Grant | 18,961 | — |
| May 22, 2026 | DUCHENE TODD Mofficer: See remarks | Grant | 138,547 | — |
| May 22, 2026 | Nygaard James P Jrofficer: EVP, Chief Financial Officer | Grant | 120,074 | — |
| May 20, 2026 | DUCHENE TODD Mofficer: See remarks | Sell | 9,600 | $23.12 |
| May 20, 2026 | DUCHENE TODD Mofficer: See remarks | Sell | 400 | $23.76 |
| May 13, 2026 | DUCHENE TODD Mofficer: See remarks | Sell | 2,600 | $22.82 |
| May 13, 2026 | DUCHENE TODD Mofficer: See remarks | Sell | 7,400 | $23.39 |
| May 6, 2026 | DUCHENE TODD Mofficer: See remarks | Sell | 9,900 | $20.85 |
Source: CORZ SEC Form 4 filings, latest Jun 24, 2026. For informational purposes only — not investment advice.
See the full CORZ insider & 13F page →Core Scientific, Inc. company profile
Overview
Core Scientific, Inc. (NASDAQ:CORZ) is a North American digital infrastructure company that emerged from Chapter 11 bankruptcy reorganization in January 2024. Originally founded as a Bitcoin mining company, Core Scientific has evolved into a diversified digital infrastructure provider operating data centers that support both cryptocurrency mining and high-performance computing (HPC) applications. The company filed for bankruptcy in December 2022 amid challenging market conditions but successfully restructured its operations and debt obligations, repositioning itself as a key player in the rapidly growing artificial intelligence and cloud computing infrastructure market.
Business
Core Scientific operates in the digital infrastructure sector, providing data center facilities and services across two primary business segments. The company's core offering centers around operating large-scale data centers that house specialized computer equipment for processing intensive computational tasks. Digital Asset Mining represents the company's original business model, where Core Scientific operates computer servers called ASIC miners that process Bitcoin blockchain transactions. These specialized machines solve complex mathematical problems to validate Bitcoin transactions and earn cryptocurrency rewards. The company both mines Bitcoin for its own account and provides hosting services for other mining companies' equipment. This segment includes self-mining operations where Core Scientific owns and operates the mining equipment, as well as hosted mining services where the company provides power, cooling, and maintenance for customer-owned mining hardware. High-Performance Computing (HPC) Hosting has become the company's strategic growth focus, representing a pivot toward serving the artificial intelligence and cloud computing markets. This segment involves converting existing data center infrastructure to host GPU servers used for AI model training, machine learning, and other computationally intensive applications. The company's primary HPC customer is CoreWeave, a cloud computing provider specializing in GPU-accelerated workloads. Core Scientific has contracted to provide 500 megawatts of HPC capacity to CoreWeave through 12-year agreements worth approximately $8.7 billion in total potential revenue. Based on recent financial results, Digital Asset Mining historically represented approximately 85-90% of revenue, while HPC Hosting currently accounts for roughly 10-15% but is expected to grow significantly as new capacity comes online. The company operates over 1,300 megawatts of contracted power capacity across multiple data center facilities in Texas, North Dakota, and other locations.
Competitive moat
Core Scientific's competitive moat is moderate and primarily based on its scale, infrastructure assets, and operational expertise, though the company faces significant competitive pressures in both its business segments. The company's strongest moat elements include its substantial physical infrastructure with over 1,300 megawatts of contracted power capacity, which represents a significant barrier to entry given the capital requirements and time needed to develop similar facilities. Core Scientific has developed operational expertise in managing large-scale data centers for high-power computing applications, including specialized knowledge in power management, cooling systems, and equipment optimization. The company's geographic diversification across multiple states provides some protection against regional regulatory or power supply issues. However, Core Scientific's moat is not particularly strong. In Bitcoin mining, the company faces intense competition from other large-scale miners, with profitability heavily dependent on external factors like Bitcoin price and network difficulty that no single company can control. The mining business is essentially commoditized, with success primarily determined by access to cheap electricity and efficient equipment rather than proprietary technology or customer relationships. In the HPC hosting segment, while Core Scientific has secured significant long-term contracts with CoreWeave, the company faces competition from established data center operators like Digital Realty Trust, Equinix, and hyperscale cloud providers building their own infrastructure. The HPC market is rapidly evolving, and Core Scientific's competitive advantage depends largely on execution speed and cost efficiency rather than unique technological capabilities. The company's recent bankruptcy history also creates some uncertainty about its long-term financial stability, though the successful restructuring has improved its balance sheet. Overall, Core Scientific operates in capital-intensive, competitive markets where operational excellence and financial discipline are more important than sustainable competitive advantages.
Risks & safety
Core Scientific presents a mixed margin of safety profile, with strong liquidity but concerning operational cash flow generation and high debt levels relative to equity. Liquidity and Cash Position: • Strong cash position of $697 million as of Q1 2025 • Current ratio of 4.26, indicating solid short-term liquidity • No immediate solvency concerns given substantial cash reserves Cash Flow and Profitability: • Negative operating cash flow of -$40.6 million in Q1 2025 • Negative free cash flow of -$129 million in Q1 2025 • Negative EBITDA of -$42.6 million in Q1 2025, indicating operational challenges Debt and Capital Structure: • Total liabilities of $1.8 billion significantly exceed total assets of $1.6 billion • Negative book value of -$181.5 million • Debt-to-equity ratio of -6.58 (negative due to negative equity) • Company targets 4x net debt to adjusted EBITDA leverage going forward Valuation Metrics: • Price-to-earnings ratio of 0.98 (based on one-time gains) • Enterprise value metrics distorted by negative EBITDA • Net operating loss carryforwards of over $380 million provide some tax benefits Other Considerations: • Recent emergence from bankruptcy provides clean slate but also indicates past financial distress • Heavy dependence on volatile Bitcoin prices and CoreWeave contract execution • Capital-intensive business model requiring ongoing investment for growth
Recent development
Core Scientific has undergone a dramatic strategic transformation over the past few years, pivoting from a pure-play Bitcoin mining company to a diversified digital infrastructure provider focused on high-performance computing. The company's most significant development was successfully navigating Chapter 11 bankruptcy reorganization, which it filed in December 2022 due to challenging market conditions and overleveraged balance sheet. The restructuring process, completed in January 2024, allowed Core Scientific to significantly reduce its debt burden and emerge with a stronger financial foundation. Strategic Pivot to HPC Infrastructure: Core Scientific has aggressively expanded into high-performance computing hosting, signing transformative contracts with CoreWeave totaling 500 megawatts of capacity worth $8.7 billion in potential revenue over 12 years. The company has been converting existing Bitcoin mining infrastructure to support GPU servers used for artificial intelligence and machine learning applications. Key milestones include delivering the first 16-megawatt HPC facility in Austin ahead of schedule and securing approval for major expansions at its Denton, Texas site. Capacity Expansion and Development: The company has pursued aggressive capacity expansion, targeting 250 megawatts of HPC delivery to CoreWeave by end of 2025. Core Scientific has also secured new sites, including a lease-to-buy agreement for an Auburn, Alabama facility, and is exploring additional development opportunities that could add approximately 400 megawatts of new capacity over the next three years. Customer Diversification Strategy: Recognizing the concentration risk from its CoreWeave relationship, Core Scientific has prioritized customer diversification, targeting to reduce CoreWeave to less than 50% of billable capacity by 2028. The company is actively pursuing relationships with other hyperscalers and enterprise customers, with a pipeline of potential 50-100 megawatt deployments. Bitcoin Mining Optimization: While focusing on HPC growth, Core Scientific has continued optimizing its Bitcoin mining operations through fleet efficiency improvements, strategic equipment refreshes, and operational consolidation to reduce power costs and improve profitability.
CORZ company profile · for informational purposes only — not investment advice.
Track CORZ with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free