Welcome to our dedicated page for Core Scientific news (Ticker: CORZ), a resource for investors and traders seeking the latest updates and insights on Core Scientific stock.
Core Scientific, Inc. designs, builds and operates large-scale, purpose-built data centers for high-density colocation services serving AI-related workloads. Company news centers on data center campus development, power-capacity expansion, customer and partnership activity, and the ongoing shift from digital asset mining toward high-density colocation revenue.
Updates also cover Core Scientific’s remaining digital asset self-mining and hosted mining activities, financing actions used to support data center development, and operating results tied to its facilities in Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma and Texas.
Core Scientific (Nasdaq: CORZ) entered into $600 million of committed senior secured credit facilities, comprising a $100 million revolving credit facility and a $500 million letter of credit facility. According to Core Scientific, revolver borrowings may be used for general corporate purposes and working capital, while letters of credit will support project obligations under utility agreements and other corporate needs.
The company expects these facilities to release approximately $300 million of restricted cash, enhancing capital efficiency and financial flexibility. The revolver matures in three years and bears interest at Adjusted Term SOFR +1.75% or an alternate base rate +0.75%. Letters of credit carry a 1.75% annual fee plus a 0.125% fronting fee. Obligations are guaranteed by certain domestic subsidiaries and secured by a first-priority lien on substantially all assets of the company and guarantors. Morgan Stanley, JPMorgan Chase Bank, Goldman Sachs and TD Securities provided and arranged the facilities.
Core Scientific (Nasdaq: CORZ) has completed its previously announced acquisition of Polaris DS for an aggregate cash purchase price of approximately $444 million. Through this deal, the company has secured about 440 MW of currently in‑service, grid‑connected gross power capacity under existing agreements with Oklahoma Gas & Electric.
According to Core Scientific, site acquisitions completed this year have added more than 600 MW of leasable power to its portfolio. The company reiterated its plan to scale its Muskogee campus to roughly 1.5 GW of gross power, or about 1.0 GW of leasable power, using both grid‑connected and behind‑the‑meter solutions. Core Scientific stated it remains on track to deliver the next approximately 82 MW at Muskogee to a customer beginning in the second half of 2027.
Core Scientific (Nasdaq: CORZ) announced its support for Texas Governor Greg Abbott’s efforts to increase transparency and accountability around data center development in the state and said it will follow related guidance and audits. The company emphasized responsible growth that protects grid reliability, local residents and ratepayers, and ensures operators bear the costs of their own infrastructure.
Core Scientific highlighted Texas as a critical market for power and infrastructure serving artificial intelligence and advanced computing. The company noted it has operated Texas data centers since 2022, pays its own electric and infrastructure costs, uses new cooling technology aimed at low water consumption, and engages in local community initiatives. Core Scientific operates eight facilities across seven other U.S. states and is repurposing remaining mining sites toward its high-density colocation services.
Core Scientific (Nasdaq: CORZ) has appointed Mark W. Adams to its Board of Directors, effective immediately, expanding the Board to seven members. Adams brings more than 30 years of technology leadership experience spanning AI infrastructure, semiconductors, storage, digital media and enterprise hardware.
Most recently, he was President and CEO of Penguin Solutions from 2020 to 2026, where he led a multi-year repositioning toward AI infrastructure solutions for enterprise and hyperscale customers. He previously spent a decade at Micron Technology, including four years as President. Adams currently serves on the boards of Seagate Technology Holdings and Cadence Design Systems. According to Core Scientific, his background is expected to support the company’s expansion of its high-density colocation data center platform and AI-focused digital infrastructure business across its U.S. facilities.
Core Scientific (NASDAQ: CORZ) reported Q2 2026 total revenue of $164.2 million, up from $78.6 million in Q2 2025, driven by colocation revenue of $136.7 million. Gross profit rose to $70.0 million from $5.0 million. The company recorded a net loss of $1,155.3 million, primarily due to a change in fair value of warrants, while adjusted EBITDA was $41.1 million, up from $28.5 million year over year.
Core Scientific announced an HDC partnership with AMD with potential support for up to 2.5 GW of leasable capacity, anchored by 15-year agreements for about 530 MW across five sites and more than $14 billion of potential base contracted revenue. Total leased customer power capacity increased to about 1.1 GW, representing more than $24 billion of potential contracted revenue. CapEx reached $797.5 million, and liquidity was $1,819.4 million, including cash and digital assets.
AMD (NASDAQ: AMD) and Core Scientific (NASDAQ: CORZ) announced an AI infrastructure partnership under which AMD will secure more than 500 megawatts of U.S. data center capacity starting in 2027, with the ability to expand access to up to 2.5 gigawatts of capacity for end-customer AI deployments.
Core Scientific and AMD will collaborate on physical infrastructure design and the deployment of AMD Instinct GPUs, EPYC CPUs and ROCm software across Core Scientific’s AI-ready, high-density colocation data centers. According to Core Scientific, AMD will also receive market-priced warrants to purchase Core Scientific common stock, subject to specified commercial conditions.
Core Scientific (Nasdaq: CORZ) appointed Steve Smith to its Board of Directors, effective immediately, and to the Nominating and Corporate Governance Committee. Smith, currently CEO of Zayo Group, has 35+ years of leadership in data centers, digital infrastructure and technology.
He previously led Equinix as CEO and President from 2007 to 2018, during which revenue grew from about $400 million to over $4 billion and more than 20 acquisitions were integrated. Core Scientific expects his experience to support its large multi-site AI infrastructure build-out and long-term power infrastructure strategy.
Core Scientific (NASDAQ: CORZ) reported Q1 FY2026 results on May 6, 2026. Total revenue was $115.2M, colocation revenue $77.5M, and digital asset self-mining revenue $30.1M. Gross profit was $30.1M; net loss was $347.2M, including $266.5M of non-cash impairments.
Recent transactions: closed $3.3B 7.75% senior secured notes due 2031, acquired land/power in Hunt County for ~$233M, expanded gross power capacity pipeline to 4.5 GW, and reported liquidity of $1.04B as of March 31, 2026.
Core Scientific (Nasdaq: CORZ) announced plans to scale its Muskogee, Oklahoma campus to ~1.5 GW gross (≈1.0 GW leasable), including an agreement to acquire Polaris DS LLC with 440 MW of contracted gross power.
The transaction, subject to regulatory approvals, is expected to close in Q3 2026 and be funded from existing liquidity; construction began on an unleased 82.5 MW building for initial delivery in Q4 2027. The company secured ~250 acres and is conducting load studies and behind-the-meter planning for additional grid-connected capacity.
Core Scientific (Nasdaq: CORZ) plans to expand its Pecos, Texas campus to approximately 1.5 GW gross power capacity, translating to about 1.0 GW leasable. The site conversion from bitcoin mining (current 300 MW) to AI data center use is underway, with the first data hall footings set and precast walls arriving. Core secured an incremental 300 MW utility capacity, more than 200 acres of land, and expects initial capacity to be available in early 2027. The company also plans a scalable behind-the-meter solution to add further capacity.