Core Scientific Inc (CORZ)

Several events have impacted Core Scientific's stock price. A proposed acquisition by CoreWeave was terminated after shareholder disapproval. Oaktree Capital Management acquired 6.4 million shares before a stock decline. Q3 2025 revenue decreased to $81.1 million, with a narrowed net loss and negative adjusted EBITDA. The company received analyst upgrades and price target revisions. The stock price increased by 5.65% due to high options trading volume. Q4 2025 revenue was below expectations at $79.8 million, but net income improved to $216.0 million. The company disclosed that multiple financial statements for 2024 and 2025 should no longer be relied upon due to improper capitalization of assets and a material weakness in internal control. Core Scientific secured $1 billion in financing from a unit of JPMorgan Chase in March 2026. The share price increased by 65.09% from March 5, 2025, to March 4, 2026, and as of April 9, 2026, the share price was $17.98, representing a 163.64% increase from April 10, 2025.

Specific demand seasonality for Core Scientific's products and services is not explicitly detailed. The company's shift towards high-density colocation for AI and HPC workloads suggests a move towards more stable, recurring revenue streams, which may be less susceptible to the volatility associated with digital asset mining. The demand for AI and HPC infrastructure is generally driven by continuous technological advancements and enterprise adoption rather than distinct seasonal patterns.

Core Scientific, Inc. is transitioning from a digital asset miner to a hybrid digital infrastructure provider, focusing on high-density colocation services for AI and HPC workloads. The company operates in the Technology Services sector, offering high-density colocation, digital asset self-mining, and hosted mining. It is increasing revenue from high-density compute services to support AI model training, cloud workloads, and other computationally intensive tasks. The company also develops proprietary software solutions to enhance blockchain network efficiency.

Core Scientific operates data centers across seven U.S. states: Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma, and Texas. The company has over 800 megawatts of announced leasable power capacity, with a total leasable power pipeline projected to reach approximately 1.5 GW. Recent expansions include a new site in Hunt County, Texas, expected to support around 285 MW, bringing the total Texas footprint to about 485 MW. Additionally, gross power capacity has increased by approximately 300 MW across its Dalton, Georgia, and Pecos, Texas, locations.

Core Scientific's brand reputation has been shaped by its strategic pivot towards high-density colocation services for AI and HPC applications. Securing a substantial AI hosting contract with CoreWeave and recognition for its infrastructure, partnerships, and innovation have positively impacted its reputation. The failed acquisition by CoreWeave and the restatement of financial statements due to accounting errors have negatively impacted its reputation. Dependence on a single customer for its high-density colocation business also poses a risk to its reputation.

Core Scientific has 393 institutional owners and shareholders holding a total of 353,756,668 shares. Major institutional shareholders include Vanguard Group Inc., Situational Awareness LP, Pentwater Capital Management LP, BlackRock, Inc., UBS Group AG, Two Seas Capital LP, Susquehanna International Group, Llp, Jericho Capital Asset Management L.P., and Citadel Advisors Llc. Adam Taylor Sullivan is the largest individual shareholder, owning 4.56 million shares, representing 1.45% of the company. Institutional shareholders collectively own 111.73% of the company, while Core Scientific insiders own 6.26%.