Core Scientific

Core Scientific

Bitcoin mining and hosting solutions provider

About Core Scientific

Simplify's Rating
Why Core Scientific is rated
A+
Rated A on Competitive Edge
Rated A on Growth Potential
Rated A+ on Differentiation

Industries

Crypto & Web3

AI & Machine Learning

Company Size

201-500

Company Stage

IPO

Headquarters

Austin, Texas

Founded

2017

Overview

Core Scientific focuses on bitcoin mining and provides hosting solutions for miners. The company builds specialized infrastructure using Application Specific Integrated Circuits (ASICs) to solve cryptographic algorithms that validate transactions on the Bitcoin Network. It stands out from competitors by quickly deploying optimized infrastructure, catering to a diverse clientele from individual miners to large institutions. Core Scientific aims to lead in blockchain technology and support the growth of digital assets.

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Simplify's Take

What believers are saying

  • Partnership with CoreWeave for $1.2B data center expansion diversifies revenue streams.
  • $400M investment in Alabama HPC facility enhances high-performance computing capabilities.
  • $550M zero-interest convertible notes offering strengthens financial position for growth.

What critics are saying

  • Cryptocurrency slump poses risk to revenue from mining operations.
  • Significant infrastructure investments may strain financial resources if returns don't materialize.
  • Reliance on convertible notes could lead to future dilution of shares.

What makes Core Scientific unique

  • Core Scientific leads in North American bitcoin mining and hosting solutions.
  • The company specializes in ASIC-powered infrastructure for blockchain and AI computing.
  • Core Scientific offers in-house management and monitoring solutions for digital asset mining.

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Funding

Total Funding

$2337M

Above

Industry Average

Funded Over

7 Rounds

Post IPO Convertible funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Convertible Funding Comparison
Coming Soon

Benefits

Health Insurance

Paid Sick Leave

Paid Holidays

Disability Insurance

Growth & Insights and Company News

Headcount

6 month growth

↑ 1%

1 year growth

↑ 1%

2 year growth

↑ 0%
Cointelegraph
May 8th, 2025
Bitcoin miner Core Scientific posts $580M Q1 profit but misses revenue estimates

As part of its HPC hosting shift, Core Scientific inked a deal in February with AI startup CoreWeave for a $1.2 billion data center expansion.

PYMNTS
Mar 31st, 2025
Cryptocurrencies And Crypto-Linked Stocks Slump Amid Traders’ Concerns About Economy

Cryptocurrencies and crypto-linked stocks have reportedly slumped alongside the SP 500 Index amid traders’ concerns about a global trade war and a possible recession. Bitcoin has lost more than 10% of its value and Ether has lost more than 45% since the beginning of the quarter, Bloomberg reported Monday (March 31). The report added that four crypto industry stocks — Coinbase, Riot Platforms, Core Scientific and Galaxy Digital — have dropped below where they were on the day of the election of President Donald Trump

Aria Crypto
Mar 6th, 2025
Back to News

Despite these challenges, CoreWeave had secured a long-term contract with Core Scientific last year, betting big on AI and high-performance compute infrastructures to diversify their revenue streams.

CoinDesk
Mar 3rd, 2025
Core Scientific Appoints Former Investment Banker as New CFO

Core Scientific, Inc. (CORZ), a provider of digital infrastructure for high-performance computing (HPC) and bitcoin miner, has announced the appointment of Jim Nygaard as its new chief financial officer, effective Mar. 17.

BTCread
Feb 27th, 2025
Core Scientific expands infrastructure by $1.2B despite profit slump

Core Scientific secured $625 million through a convertible note offering.

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