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. (NASDAQ: CORZ) delivers blockchain infrastructure solutions through digital asset mining and high-performance computing services. This news hub provides investors and industry professionals with essential updates about the company's operational developments, financial performance, and technological advancements.
Access the latest press releases covering earnings reports, facility expansions, energy efficiency initiatives, and partnership announcements. Our curated collection includes analysis of CORZ's self-mining operations, hosted mining services, and GPU-based HPC solutions that support artificial intelligence and machine learning applications.
Stay informed about Core Scientific's position in the evolving blockchain ecosystem through verified updates on regulatory compliance, sustainability efforts, and infrastructure innovations. All content undergoes strict editorial review to ensure accuracy and relevance for stakeholders.
Bookmark this page for streamlined access to CORZ's corporate communications and third-party analysis. Check regularly for updates on North American operations, market positioning, and strategic initiatives in digital infrastructure.
Core Scientific has announced a significant new contract with CoreWeave, an AI Hyperscaler, to deliver approximately 70 MW of additional infrastructure for high-performance computing (HPC) operations. This contract, part of a previously announced 200 MW, 12-year deal, will increase Core Scientific's total owned and contracted infrastructure for HPC hosting to approximately 270 MW.
The site modifications are slated to begin in the second half of 2024, with operations expected by the second half of 2025. The new agreement is projected to add $1.225 billion in cumulative revenue over 12 years, on top of the previously announced $3.5 billion.
Core Scientific's CEO, Adam Sullivan, highlighted the company's ability to rapidly deploy and build application-specific data centers to meet future computing needs. The agreement also includes options for two five-year renewal terms and further expansion possibilities, potentially making Core Scientific one of the largest data center operators in the U.S., with a total of nearly 500 MW for HPC hosting.
Core Scientific, one of North America's largest bitcoin mining and hosting service providers, announced it will webcast its Investor and Analyst presentation on June 12, 2024. The event will begin at 11:15 am CT and end at 1:15 pm CT. It will feature CEO Adam Sullivan, CFO Denise Sterling, EVP of Data Center Operations Matt Brown, and other management team members. The live webcast and slide presentation can be accessed online, with a call-in option available at +1 (877) 407-1875 (toll-free) or +1 (215) 268-9909, using confirmation number 13747030. An archived recording and presentation slides will be available on the Core Scientific website.
Core Scientific, a leading provider of digital infrastructure for bitcoin mining and hosting, has rejected an unsolicited proposal from CoreWeave offering $5.75 per share in cash.
The Board, after consulting financial and legal advisors, deemed the offer undervalued and not in shareholders' best interests.
Core Scientific emphasized its ongoing 12-year contracts with CoreWeave, which are expected to generate over $3.5 billion in cumulative revenue.
The company continues to focus on expanding its high-performance compute (HPC) hosting business while maintaining its bitcoin mining operations.
Shareholders are advised that no action is required.
Moelis & Company and Sidley Austin LLP are advising Core Scientific.
Core Scientific (Nasdaq: CORZ) reported its May 2024 production and operations updates. The company mined 447 self-mined bitcoins, totaling 4,076 bitcoins year-to-date, while customers mined 128 bitcoins. Core Scientific operated 219,000 bitcoin miners with a total hash rate of 26.1 exahash as of May 31, 2024. The company announced new hosting contracts with CoreWeave, estimated to generate $3.5 billion in revenue over 12 years. However, the production metrics showed a decline from April 2024, with reduced bitcoin production and sales proceeds. The company's strategies included reducing power consumption to maximize profitability and replacing older miners with new S21 models. Upcoming events include an investor and analyst event on June 12, 2024, and Mining Disrupt on June 25-26, 2024.
Core Scientific (NASDAQ: CORZ), a leader in high-powered digital infrastructure, has signed 12-year contracts with AI hyperscaler CoreWeave to provide approximately 200 MW of infrastructure for high-performance computing (HPC) operations. These contracts aim to generate over $3.5 billion in revenue over the initial term. Core Scientific will modify its existing sites to host CoreWeave’s NVIDIA GPUs, with operations expected to commence in the second half of 2024 and become fully operational by mid-2025. The agreement will enhance Core Scientific’s business model, balancing bitcoin mining and compute hosting, and is expected to deliver significant, recurring, and high-margin revenues, estimated at around $290 million annually.
Core Scientific (NASDAQ: CORZ), a bitcoin mining leader, announced that CEO Adam Sullivan will present at the 19th Annual Needham Technology, Media, & Consumer Conference on May 16, 2024, at 8:00 am EDT. The presentation will cover the company's advancements in application-specific digital infrastructure. A live webcast and a replay will be available on Core Scientific's website.
Core Scientific, Inc. (NASDAQ: CORZ) announced strong fiscal first quarter 2024 results, highlighted by net income of $210.7 million, adjusted EBITDA of $88.0 million, and total revenue of $179.3 million. The company strengthened its balance sheet, ending the quarter with $98.1 million in cash and cash equivalents. Core Scientific operated the largest owned infrastructure footprint among publicly listed miners in North America, with 745 megawatts of infrastructure. The company improved its self-mining fleet energy efficiency and earned 2,825 self-mined bitcoins, the highest among publicly listed miners in North America. Core Scientific also announced plans to expand into high-performance computing, leveraging its operational infrastructure and access to 1.2 gigawatts of power.
Core Scientific, Inc. (Nasdaq: CORZ) announced production and operations updates for April 2024, showcasing strong performance in bitcoin mining. The company earned 803 self-mined bitcoins and its customers earned 265 bitcoins in April, with a total of 3,628 bitcoins year-to-date. Core Scientific completed the deployment of 2.5 EH/s of S21 miners, operating approximately 224,000 owned and hosted bitcoin miners for a total energized hash rate of 26.7 exahash as of April 30, 2024. The company plans to add 372 megawatts of new infrastructure to increase hash rate and enhance revenue potential.
Core Scientific, Inc. (NASDAQ: CORZ) will release its first quarter fiscal year 2024 financial results after markets close on May 8, 2024. The company will host a conference call and webcast to discuss the results with management including CEO Adam Sullivan, CFO Denise Sterling, and SVP Investor Relations Steven A. Gitlin. Investors can access the live webcast on the company's website.
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