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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 infrastructure using specialized computers called Application Specific Integrated Circuits (ASICs) to validate transactions on the Bitcoin Network. Unlike its competitors, Core Scientific can quickly deploy optimized infrastructure, making it a preferred choice for clients looking to scale their operations. The company's goal is to support the growth of blockchain technology and digital assets while generating revenue through mining and hosting services.
Simplify's Take
What believers are saying
- Core Scientific is expanding its data center in Texas for AI-driven computing.
- The company secured $625 million through a convertible note offering for growth.
- Core Scientific's $400M investment in Alabama enhances its HPC infrastructure capabilities.
What critics are saying
- Cryptocurrency value slump could impact Core Scientific's bitcoin mining revenue.
- Aggressive expansion plans may strain financial resources if market conditions worsen.
- Significant capital expenditures may not yield immediate returns, affecting cash flow.
What makes Core Scientific unique
- Core Scientific specializes in blockchain infrastructure and AI computing solutions.
- The company offers both bitcoin mining and hosting services for digital asset miners.
- Core Scientific's infrastructure is powered by ASICs for efficient cryptographic algorithm processing.
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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
↑ 2%1 year growth
↑ 1%2 year growth
↑ 0%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.
CoreWeave and Core Scientific announced a joint $1.2 billion data center expansion project in Texas.
Core Scientific is Hiring for 14 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 14 Jobs on Simplify!
Find jobs on Simplify and start your career today