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.
Two Seas Capital, the largest active shareholder of Core Scientific (NASDAQ: CORZ), published an investor presentation urging shareholders to vote AGAINST Core Scientific's proposed sale to CoreWeave (NASDAQ: CRWV).
Two Seas argues the deal announced July 7, 2025 is the product of a flawed process, has a deficient structure, and features an inadequate exchange ratio that substantially undervalues Core Scientific. The presentation cites peers that "more than doubled" in value in the three months after the deal announcement and highlights the company’s special meeting on October 30, 2025 where shareholders will vote using the GOLD proxy card.
Two Seas Capital LP, the largest active shareholder of Core Scientific (NASDAQ: CORZ), has filed a definitive proxy statement opposing the company's proposed sale to CoreWeave (NASDAQ: CRWV). The investment firm is urging shareholders to vote AGAINST the transaction announced on July 7, 2025.
Two Seas criticizes the deal on multiple fronts: the valuation is deemed inadequate, the structure is considered deficient, and the process was flawed as no other parties were contacted. The market's reaction was notably negative, with CORZ stock plunging 18% on the announcement day. Two Seas argues that CoreWeave's stock, which had appreciated over 300% in just months before the deal, is being used as currency in a transaction that undervalues Core Scientific's potential in the AI data center market.
The firm particularly criticizes the immediate executive benefits, including accelerated vesting and excise tax reimbursement, while shareholders are deprived of long-term value in the AI infrastructure sector.
Core Scientific (NASDAQ: CORZ), a digital infrastructure and mining company, reported its Q2 2025 financial results, showing significant revenue declines and continued losses. Total revenue fell to $78.6 million from $141.1 million year-over-year, with digital asset mining revenue dropping to $62.4 million from $110.7 million.
The company reported a net loss of $936.8 million, largely due to non-cash fair value adjustments of $910.0 million. Notably, Core Scientific announced a pending all-stock merger with CoreWeave, where shareholders will receive 0.1235 shares of CoreWeave Class A common stock for each CORZ share.
The company maintains a strong liquidity position of $754.1 million, including $581.3 million in cash and $172.8 million in digital assets.
Two Seas Capital LP, the largest active shareholder of Core Scientific (NASDAQ: CORZ) with a 6.3% stake (19,122,842 shares), has announced its opposition to the company's proposed sale to CoreWeave (NASDAQ: CRWV) announced on July 7, 2025.
In an open letter to shareholders, Two Seas expressed disappointment with the all-stock, uncollared transaction structure, stating it materially undervalues Core Scientific and exposes shareholders to substantial economic risk. The shareholder pointed to the 30% stock price decline following the announcement as evidence of market disapproval.
While not philosophically opposed to the merger, Two Seas plans to vote against the transaction unless terms are revised to address structural shortcomings and inadequate consideration. The firm believes Core Scientific is uniquely positioned in the high-performance computing infrastructure space, particularly for AI applications.
[ "Two Seas Capital owns 6.3% stake, demonstrating significant investor confidence", "Core Scientific has strategic positioning in high-performance computing infrastructure", "Company has ready access to low-cost power and data center talent", "Strong growth potential in AI computing infrastructure market" ]Core Scientific (NASDAQ:CORZ), a leader in digital infrastructure for high-density colocation services and bitcoin mining, has scheduled to release its Q2 2025 financial results after market close on August 8, 2025. The company will not host a conference call or webcast to discuss the results due to its pending transaction with CoreWeave, which was previously announced on July 7, 2025.
CoreWeave (NASDAQ: CRWV) has announced a definitive agreement to acquire Core Scientific (NASDAQ: CORZ) in an all-stock transaction. Core Scientific stockholders will receive 0.1235 shares of CoreWeave Class A common stock for each Core Scientific share, valuing the deal at approximately $9.0 billion.
The acquisition will provide CoreWeave with 1.3 GW of gross power across Core Scientific's data centers, plus 1 GW+ potential expansion capacity. The deal is expected to generate $500 million in annual run-rate cost savings by 2027 and eliminate over $10 billion in future lease overhead.
The transaction is expected to close in Q4 2025, subject to regulatory and shareholder approval. Core Scientific stockholders will own less than 10% of the combined company post-closing.
Xobee Networks, a managed service provider, has appointed Scott Brueggeman as its new Chief Revenue Officer. Brueggeman brings over 25 years of leadership experience in technology, infrastructure, and business services, with expertise in sales, marketing, and go-to-market strategy.
Most recently, Brueggeman served as Chief Marketing Officer at Core Scientific (NASDAQ: CORZ), where he led the company's strategic pivot into AI-driven high-performance computing infrastructure. His previous roles include senior executive positions at Logix Fiber Networks, CyrusOne, and CoreLink Data Centers, where he drove transformational growth and successful M&A integrations totaling over $1 billion in enterprise value.
Core Scientific (NASDAQ: CORZ), a leading provider of digital infrastructure for high-density colocation and bitcoin mining, has announced its participation in the TD Cowen 53rd Annual Technology, Media & Telecom Conference. CEO Adam Sullivan will deliver a presentation on Thursday, May 29th, at 9:40 a.m. ET. Investors can access the live webcast through the company's website's Investors section, with a replay available for 90 days following the presentation.
Core Scientific (NASDAQ: CORZ) has announced two significant leadership changes: the appointment of Elizabeth Crain to its Board of Directors and the election of Jordan Levy as Chairman of the Board. Crain, who will serve as Chair of the Audit Committee, brings over 30 years of financial expertise as a Co-Founder and former COO of Moelis & Company and former Managing Director at UBS Investment Banking Americas. She currently serves as a Partner at the Consello Group and is a board member of Nokia (NYSE: NOK). Levy succeeds Jarrod Patten, who did not seek reelection at the 2025 Annual Meeting.
Core Scientific (NASDAQ: CORZ) announced the immediate departure of Todd Becker from its Board of Directors. Becker, who joined in January 2024 and served as Audit Committee Chair, played a crucial role during his tenure by overseeing two major capital raises that strengthened the company's balance sheet and supporting the hiring of a new CFO. His leadership was particularly significant during Core Scientific's post-bankruptcy transformation.
CEO Adam Sullivan praised Becker's contributions, highlighting his financial expertise and disciplined governance approach. The company confirmed that Becker's resignation was not due to any disagreements with the Board, Company, or management. Core Scientific has begun searching for a new independent director to fill the position.