![[Core-Scientific-Logo.svg|300]] Company website: https://www.corescientific.com/ ### Introduction Core Scientific, Inc., a leading provider of digital infrastructure for high-performance computing and formerly a prominent Bitcoin mining company, was founded in 2017 by Mike Levitt and Darin Feinstein. Headquartered in Austin, Texas, with operations across multiple data centers in the United States, the company's mission is to build the future of computing by delivering purpose-built infrastructure for high-density data centers, enabling scalable solutions for AI, machine learning, and other compute-intensive applications. The company's key focus areas include transitioning from Bitcoin mining to high-density colocation services for AI and HPC workloads, leveraging over 1.3 GW of contracted power capacity, and optimizing energy infrastructure for efficiency and sustainability. Amid strategic pivots, Core Scientific has emphasized partnerships for AI infrastructure expansion, with a significant all-stock acquisition by CoreWeave announced in July 2025, positioning it as a core player in the evolving AI data center landscape. ### Key Products and Technology - **High-Density Colocation Services**: Scalable data center infrastructure optimized for AI, machine learning, and cloud workloads, with 1.3+ GW of contracted power and enterprise-grade facilities. Features include ready-to-scale setups in high-energy environments, low-latency connectivity, and support for industries like financial services, healthcare, and hyperscalers; applications enable rapid deployment for compute-intensive tasks, such as model training and real-time analysis. - **Bitcoin Mining Operations**: Self-mining and hosting services with deployed hashrate capabilities, producing Bitcoin through owned fleets (e.g., earned 215 BTC in February 2025). Features energy-efficient rigs and demand-response programs; applications secure the Bitcoin network, though the company is pivoting toward reduced emphasis amid AI focus. - **Data Center Development and Optimization**: Purpose-built facilities for digital infrastructure, including expansions like the Denton, Texas site. Technologies emphasize high-density computing (up to mission-critical levels), sustainability, and rapid scaling; applications support AI-driven growth, grid stability, and diversified revenue from colocation. ### Team and Leadership - **Adam Sullivan, President and Chief Executive Officer**: Oversees strategic direction and operations, with a focus on AI infrastructure expansion; experienced in technology and finance, leading the company's pivot from mining to high-density computing. - **Jim Nygaard, Executive Vice President and Chief Financial Officer**: Appointed effective March 17, 2025, succeeding Denise Sterling; manages financial strategy and treasury; background in corporate finance and high-growth tech firms. - **Eric Weiss, Founder and Chief Investment Officer**: Co-founder focusing on investments and blockchain; expertise in digital assets and infrastructure development. - **Elizabeth Crain, Board Member**: Appointed May 16, 2025; brings over 30 years in investment banking, private equity, and executive leadership to guide strategic decisions. - **Scott Brueggeman, Strategic Marketing Hire**: Joined January 2025 to accelerate growth and brand leadership; experienced in marketing for tech and infrastructure sectors. ### Recent News and Developments (2025) | Date | Event | Details | |------------|--------------------------------|-------------------------------------------------------------------------| | July 7, 2025 | CoreWeave to Acquire Core Scientific | Announced all-stock acquisition valued at $9 billion to enhance AI infrastructure; expected to close in Q4 2025, saving CoreWeave $500 million annually. | | May 16, 2025 | Appoints Elizabeth Crain to Board of Directors | Added board member with 30+ years in investment banking and private equity to strengthen governance. | | May 12, 2025 | Annual General Meeting | Stockholders approved amendment to 2024 Stock Incentive Plan. | | May 7, 2025 | Fiscal First Quarter 2025 Results | Reported net income of $580.7 million (up from $210.7 million YoY), revenue of $79.5 million; on track for 250 MW billable capacity to CoreWeave by year-end. | | April 7, 2025 | March 2025 Production and Operations Updates | Highlighted mining metrics and infrastructure progress. | | March 3, 2025 | Planned CFO Transition | Jim Nygaard to succeed Denise Sterling as CFO effective March 17. | | February 5, 2025 | January 2025 Production and Operations Updates | Earned 256 BTC from self-mining; operated ~161,000 miners. | | January 9, 2025 | Strategic Marketing Hire | Appointed Scott Brueggeman to accelerate growth and brand leadership. | ### Partnerships and Collaborations - **CoreWeave**: Expanded multi-year agreement in February 2025 for $1.2 billion in revenue from Denton, Texas data center expansion; evolved into full acquisition announced July 7, 2025, for $9 billion all-stock deal, enhancing AI infrastructure and profitability. - **Industry-Specific Collaborations**: Provides solutions for sectors like AI, cloud, financial services, government, healthcare, hyperscalers, manufacturing, media, oil & gas, professional services, and retail, though specific partners not detailed beyond CoreWeave. Information on additional partnerships is limited in sources, with emphasis on the transformative CoreWeave alliance. ### Closing Note As a publicly traded company (NASDAQ: CORZ) with Q1 2025 net income of $580.7 million and an impending $9 billion acquisition by CoreWeave expected to close in Q4 2025, Core Scientific is in a transitional growth stage, with a strong future outlook anchored in AI and high-density computing infrastructure. *Report generated July 28, 2025*