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About Core Scientific
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.
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
Benefits
Health Insurance
Paid Sick Leave
Paid Holidays
Disability Insurance
Growth & Insights and Company News
6 month growth
↑ 1%1 year growth
↑ 1%2 year growth
↑ 0%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.
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
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.
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.
Core Scientific secured $625 million through a convertible note offering.
Core Scientific is Hiring for 17 Jobs on Simplify!
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About Core Scientific
Industries
Crypto & Web3
AI & Machine Learning
Company Size
201-500
Company Stage
IPO
Headquarters
Austin, Texas
Founded
2017
Core Scientific is Hiring for 17 Jobs on Simplify!
Find jobs on Simplify and start your career today