CORZ on Nasdaq

Core Scientific

Core Scientific, Inc. is a US-based company with its registered office in Dover, Delaware.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

2017Founded1

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  • TickerCORZ on Nasdaq1
  • Industrydata center1
  • HeadquartersDover1
  • Websitewww.corescientific.com
  • Incorporated inDE4
  • Business address838 Walker Road, Suite 21-2105, Dover, De 199044
  • Filer categoryLarge accelerated filer4

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

11.9%Gross margin6
-77.0%Operating margin6
-90.5%Net margin6
-37.5%Revenue growth, 20256
-$450.8MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue64¢$281.1M
  • Selling, general and admin36¢$159.2M
  • Income tax0¢$583.0K

Out of $319.0M in revenue.6 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending100¢$729.0M

Out of $278.2M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.6

Financial statements

Revenue7896$319.0M in 2025+429% since 2020
0$200.0M$400.0M$600.0M$800.0M2020: $60.3M$60.3M20202021: $544.5M$544.5M2021+803%2022: $640.3M$640.3M2022+18%2023: $502.4M$502.4M2023−22%2024: $510.7M$510.7M2024+2%2025: $319.0M$319.0M2025−38%
Gross profit7896$37.9M in 2025+304% since 2020
0$100.0M$200.0M$300.0M2020: $9.4M$9.4M20202021: $238.9M$238.9M2021+2443%2022: $8.4M$8.4M2022−96%2023: $123.5M$123.5M2023+1370%2024: $121.1M$121.1M2024−2%2025: $37.9M$37.9M2025−69%
Operating income7896-$245.6M in 2025+3782% since 2020
-$3.0B-$2.0B-$1.0B0$1.0B2020: -$6.3M-$6.3M20202021: $131.5M$131.5M20212022: -$2.1B-$2.1B20222023: $9.0M$9.0M20232024: -$142.1M-$142.1M20242025: -$245.6M-$245.6M2025+73%
Net income7896-$288.6M in 2025+2265% since 2020
-$3.0B-$2.0B-$1.0B0$1.0B2020: -$12.2M-$12.2M20202021: $47.3M$47.3M20212022: -$2.1B-$2.1B20222023: -$246.5M-$246.5M2023−89%2024: -$1.4B-$1.4B2024+483%2025: -$288.6M-$288.6M2025−80%
Fiscal year2019202020212022202320242025
Revenue$60.3M7$544.5M8$640.3M9$502.4M6$510.7M6$319.0M6
Cost of revenue$50.9M7$305.6M8$631.9M9$378.9M6$389.6M6$281.1M6
Gross profit$9.4M7$238.9M8$8.4M9$123.5M6$121.1M6$37.9M6
Research and development$5.3M7$7.7M8$27.0M9$7.2M9$11.8M9
Selling, general and admin$108.1M6$113.7M6$159.2M6
Operating income-$6.3M7$131.5M8-$2.1B9$9.0M6-$142.1M6-$245.6M6
Income tax$07$15.8M8-$17.1M9$683.0K6$859.0K6$583.0K6
Net income-$12.2M7$47.3M8-$2.1B9-$246.5M6-$1.4B6-$288.6M6
Earnings per share-$0.147$0.238-$6.309-$0.656-$4.876-$0.886
Earnings per share (diluted)-$0.147$0.208-$6.309-$0.656-$4.876-$0.886

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The story

Core Scientific was founded in Seattle in 2017, but later relocated its operational headquarters to Austin. Its founders include B. Kevin Turner, former COO of Microsoft. The company initially specialized in Bitcoin mining using renewable energy and digital asset infrastructure.

In 2021, Core Scientific announced plans to go public via a SPAC merger with Power & Digital Infrastructure Acquisition Corp. The IPO was completed in January 2022, with a valuation of over $4 billion at the time of listing, raising $190 million for Core Scientific.

However, at the end of 2022, Core Scientific filed for bankruptcy under Chapter 11 following a sharp drop in Bitcoin prices and high debt levels. Operations continued during the proceedings. In January 2024, the company emerged from bankruptcy after undergoing extensive restructuring and reorganization.

Since 2024, the company has been increasingly focusing on high-performance computing (HPC) for artificial intelligence. In 2025, contracts worth US$10 billion were signed for the operation of data centers.

In July 2025, CoreWeave announced its intention to acquire Core Scientific in a deal worth US$9 billion.

In March 2026, it was announced that Core Scientific had sold approximately $175 million worth of Bitcoin holdings to accelerate the expansion of its AI infrastructure. Bitcoin mining, on the other hand, is to be discontinued. In addition to selling its Bitcoin holdings, the company also took out a billion-dollar loan to build new data centers in several US states.

Core Scientific currently operates 10 data centers (as of March 2026) spread across seven US states.

From Wikipedia’s article on Core Scientific, shared under CC BY-SA 4.0.5

Leadership

Who has led Core Scientific, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Patrick C. Eilers2021
  2. Michael J. Levitt2022
  3. Adam Taylor Sullivan2024–now

President

  1. Adam Taylor Sullivan2023

Chief financial officer

  1. James P. Nygaard Jr.2021–2022
  2. Michael Trzupek2022
  3. Denise Marie Brucia Sterling2022–2025
20202025
Board members and other officers (27)

Former names

  • Power & Digital Infrastructure Acquisition Corp.Jan 8, 2021 to Jan 19, 20224

Timeline

  1. Jan 25, 2024New chief executive Adam Taylor Sullivan becomes CEO13
  2. Jan 31, 2022New chief executive Michael J. Levitt becomes CEO14
  3. Feb 9, 2021New chief executive Patrick C. Eilers becomes CEO15
  4. 2017Founded Founded1

Filings

617 filings to the SEC since October 2021: 7 annual reports, 19 quarterly reports, 164 major events, 188 insider forms, 65 large holders, 1 private raises, 173 other. The latest 20:

  1. Oct 14, 20264 EDGAR
  2. Oct 13, 2026144 EDGAR
  3. Oct 7, 20264 EDGAR
  4. Oct 5, 20264 EDGAR
  5. Oct 5, 20264 EDGAR
  6. Sep 30, 20264 EDGAR
  7. Sep 23, 20264 EDGAR
  8. Sep 17, 20264 EDGAR
  9. Sep 16, 20264 EDGAR
  10. Sep 10, 20268-K EDGAR
  11. Sep 10, 20264 EDGAR
  12. Sep 2, 20264 EDGAR
  13. Aug 27, 20268-K EDGAR
  14. Aug 26, 20264 EDGAR
  15. Aug 24, 20264 EDGAR
  16. Aug 20, 20264 EDGAR
  17. Aug 19, 20264 EDGAR
  18. Aug 14, 20268-K EDGAR
  19. Aug 14, 2026SCHEDULE 13G EDGAR
  20. Aug 14, 2026SCHEDULE 13G/A EDGAR

The 617 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 65 such filings since October 2021, the latest 10:

  1. Aug 14, 2026SCHEDULE 13G
  2. Aug 14, 2026SCHEDULE 13G/A
  3. Aug 14, 2026SCHEDULE 13G/A
  4. Aug 12, 2026SCHEDULE 13G/A
  5. Aug 5, 2026SCHEDULE 13G
  6. Aug 4, 2026SCHEDULE 13D/A
  7. Jul 31, 2026SCHEDULE 13G
  8. May 26, 2026SCHEDULE 13G
  9. May 15, 2026SCHEDULE 13G/A
  10. May 15, 2026SCHEDULE 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Sep 9, 2022Filed a private offering of equity Form D: $100 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.28,122,262$719.6M0.0%+3,492,391
Situational Awareness LP26,008,473$665.6M3.3%No change
Jericho Capital Asset Management L.P.22,882,942$585.6M4.8%+11,159,492
Vanguard Portfolio Management LLC18,661,783$477.6M0.0%+47,247
UBS Group AG15,889,496$406.6M0.1%−9,644,444
Vanguard Capital Management LLC13,797,507$353.1M0.0%+432,618
Two Sigma Investments, LP10,275,907$263.0M0.2%+4,689,937
Geode Capital Management, LLC8,495,597$244.6M0.0%+691,916
Value Aligned Research Advisors, LLC9,187,797$235.1M1.4%+1,468,835
Two Seas Capital LP9,028,509$231.0M8.8%−7,123,324
State Street Corp7,747,021$198.2M0.0%+460,745
Valiant Capital Management, L.P.7,474,231$191.3M11.9%+622,906
Ascentis Wealth Management, LLC7,282,008$186.3M27.9%−10
Jane Street Group, LLC6,468,992$165.5M0.1%+6,407,759
Morgan Stanley6,338,943$162.2M0.0%+2,866,937
Jpmorgan Chase & Co5,452,208$141.8M0.0%+233,450
Oaktree Capital Management LP4,993,708$127.8M3.4%−4,357,000
Monarch Alternative Capital LP4,600,000$117.7M22.8%New
Helix Partners Management LP4,550,000$116.4M31.4%+139,000
Apollo Management Holdings, L.P.4,520,165$115.7M1.9%New
Citadel Advisors LLC4,041,333$103.4M0.1%−2,093,022
American Century Companies Inc4,038,573$103.3M0.0%+1,536,813
Fifth Third Bancorp3,998,795$102.3M0.2%+1,322
Avala Global LP3,975,334$101.7M3.8%New
Clearline Capital LP3,960,803$101.4M6.5%−4,178,513

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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