Core Scientific Inc.

NASDAQ: CORZ Share price (04/02/26): $16.23 Industry: Finance Services

Financials

Type
Title
Date
Extracts
10-K/A
FY2025 - amended ended 12/31/25
 03/18/26 PR IS BS CFS
10-K/A
FY2024 - amended ended 12/31/24
 03/02/26 PR IS BS CFS
10-Q/A
Q1 - amended ended 03/31/25
 03/02/26 PR IS BS CFS
10-Q/A
Q2 - amended ended 06/30/25
 03/02/26 PR IS BS CFS
10-Q/A
Q3 - amended ended 09/30/25
 03/02/26 PR IS BS CFS
10-K
FY2025 ended 12/31/25
 03/02/26 PR IS BS CFS
10-Q
Q3 ended 09/30/25
 10/24/25 PR IS BS CFS
10-Q
Q2 ended 06/30/25
 08/08/25 PR IS BS CFS
10-Q
Q1 ended 03/31/25
 05/07/25 PR IS BS CFS
10-K
FY2024 ended 12/31/24
 02/27/25 PR IS BS CFS

Transcripts and slides

Title
Links
Date
Earnings Call Q4 FY2025
 Transcript Slides 03/02/26
Core Scientific, Inc. - Special Call
 Transcript 10/30/25
CORZ Q3 FY2025
 Slides 10/24/25
Earnings Call Q1 FY2025
 Transcript 05/07/25
Earnings Call Q4 FY2024
 Transcript 02/26/25
Earnings Call Q3 FY2024
 Transcript 11/06/24
Earnings Call Q2 FY2024
 Transcript 08/07/24
Core Scientific, Inc. - Shareholder/Analyst Call
 Transcript 06/12/24
Earnings Call Q1 FY2024
 Transcript 05/08/24

Ownership

Type
Title
Date
4
Duchene Todd M
 04/02/26
4
Sullivan Adam Taylor
 04/02/26
144
Duchene Todd M
 04/01/26
4/A
Nygaard James P JR
 03/27/26
SCHEDULE 13G/A
Vanguard Group Inc
 03/26/26
SCHEDULE 13D/A
Two Seas Capital LP
 03/20/26
4
Nygaard James P JR
 03/19/26
SCHEDULE 13G
Valiant Capital Management, L.P.
 03/12/26
4
Weiss Eric Stanton
 03/10/26
SCHEDULE 13D/A
Two Seas Capital LP
 03/04/26

Other

Type
Title
Date
ARS
Annual report to security holders
 03/31/26
ARS
Annual report to security holders
 03/28/25
EFFECT
Notice of effectiveness
 05/02/24
CORRESP
Correspondence with the SEC
 04/29/24
UPLOAD
Letter from the SEC
 04/22/24
CERT
Certification approving securities for listing
 01/24/24
SEC STAFF ACTION
Statement of action taken by SEC
 01/23/24
CORRESP
Correspondence with the SEC
 01/17/24
UPLOAD
Letter from the SEC
 11/21/23
CORRESP
Correspondence with the SEC
 09/07/22

Non-Ownership

Type
Title
Filed
DEF 14A
Definitive proxy statement
 03/31/26
DEFA14A
Definitive additional materials
 03/31/26
ARS
Annual report to security holders
 03/31/26
8-K
Press Releases and Additional Exhibits
 03/23/26
10-K/A
FY2025 - amended ended 12/31/25
 03/18/26
8-K
Press Releases and Additional Exhibits
 03/06/26
8-K
Core Scientific Announces Fourth Quarter Fiscal Year 2025 Results
 03/02/26
10-K/A
FY2024 - amended ended 12/31/24
 03/02/26
10-Q/A
Q1 - amended ended 03/31/25
 03/02/26
10-Q/A
Q2 - amended ended 06/30/25
 03/02/26
10-Q/A
Q3 - amended ended 09/30/25
 03/02/26
10-K
FY2025 ended 12/31/25
 03/02/26
8-K/A
Material Contracts
 02/19/26
8-K
Material Contracts
 02/18/26
8-K
Voting Matters, Financial Statements and Exhibits
 10/31/25
8-K
Core Scientific Announces Preliminary Results of Special Meeting of Stockholders
 10/30/25
8-K
Nasdaq: Corz
 10/30/25
8-K
Presentation
 10/30/25
DFAN14A
Proxy materials filed by non-mgmt (Two Seas Capital LP)
 10/28/25
8-K
Core Scientific Announces Fiscal Third Quarter 2025 Results
 10/24/25

Ownership

Type
Title
Filed
4
Duchene Todd M
 04/02/26
4
Sullivan Adam Taylor
 04/02/26
144
Duchene Todd M
 04/01/26
4/A
Nygaard James P JR
 03/27/26
SCHEDULE 13G/A
Vanguard Group Inc
 03/26/26
SCHEDULE 13D/A
Two Seas Capital LP
 03/20/26
4
Nygaard James P JR
 03/19/26
SCHEDULE 13G
Valiant Capital Management, L.P.
 03/12/26
4
Weiss Eric Stanton
 03/10/26
SCHEDULE 13D/A
Two Seas Capital LP
 03/04/26
SCHEDULE 13D/A
Two Seas Capital LP
 02/19/26
SCHEDULE 13G
Susquehanna Securities, LLC
 02/13/26
SCHEDULE 13G/A
Barclays PLC
 02/11/26
SCHEDULE 13G/A
Valiant Capital Management, L.P.
 02/09/26
4
Levy Jordan
 02/06/26
4
Rozov Yadin
 02/06/26
4
Weiss Eric Stanton
 02/06/26
4
Crain Elizabeth
 02/06/26
4
Booth Jeffrey David
 02/06/26
4/A
Sullivan Adam Taylor
 02/02/26
Title
Links
Date
Earnings Call Q4 FY2025
 Transcript Slides 03/02/26
Core Scientific, Inc. - Special Call
 Transcript 10/30/25
CORZ Q3 FY2025
 Slides 10/24/25
Earnings Call Q1 FY2025
 Transcript 05/07/25
Earnings Call Q4 FY2024
 Transcript 02/26/25
Earnings Call Q3 FY2024
 Transcript 11/06/24
Earnings Call Q2 FY2024
 Transcript 08/07/24
Core Scientific, Inc. - Shareholder/Analyst Call
 Transcript 06/12/24
Earnings Call Q1 FY2024
 Transcript 05/08/24

Business
Overview
Core Scientific, Inc. (“we,” “us,” “our,” the “Company,” “Core Scientific,” or “Core”) designs, builds and operates large-scale,
purpose-built data centers that support high-density colocation services and digital asset mining for both our own account and to a
lesser extent, third-party customers. Our data centers are optimized for power-intensive, mission-critical computing workloads, with a
focus on artificial intelligence (“AI”) and other high-performance computing (“HPC”) applications.
As of December 31, 2025, we owned or leased ten data centers across seven U.S. states, representing approximately 1.4
gigawatts (“GW”) of gross utility power capacity, or approximately 920 megawatts (“MW”) of total leasable customer power
capacity. A portion of these facilities were in operation as of December 31, 2025, with the remainder under construction or in various
stages of development.
Since its inception in 2017, Core Scientific has been focused on building and operating high-power, purpose-built data centers,
initially for digital asset mining and hosting third-party digital asset mining customers. The Company historically targeted sites with
abundant, reliable and cost-effective power, strong network connectivity, available land or existing buildings suitable for
redevelopment, attractive economic incentives, and access to utilities. In developing its facilities, the Company typically designed
powered shells and sufficient fiber connectivity to high performance data center standards, enabling flexibility to support increasing
power densities and evolving compute requirements over time.
In 2024, the Company announced its strategy to focus its data center infrastructure and expertise to the high-density colocation
compute business and in February 2024, entered into long-term contract with CoreWeave, Inc. (“CoreWeave”) to deliver 16 MW of
infrastructure at our Austin, Texas facility. In June 2024, Core Scientific announced that it had entered another contract with
CoreWeave for 200 MW of leased customer power capacity. Through the exercise of several contractual options during 2024 and into
early 2025, total leased customer power capacity under the relationship with CoreWeave increased to approximately 590 MW of
leased power capacity.
In 2025, we derived the majority of our revenue from earning digital assets for our own account but expect that a meaningful
amount of our revenue will be derived from high-density colocation (“HDC”) in 2026, as billable customer power capacity gets
delivered to our end customer. We intend to convert every megawatt in our portfolio to high-density colocation infrastructure over the
next three years, while continuing to digital asset mine during conversion only to meet existing power commitments at facilities where
HDC conversion is taking place or to honor a small number of digital asset mining hosting commitments. We are also actively
evaluating opportunities to acquire new sites, including land and power capacity, to expand our data center footprint beyond our
current portfolio.
Industry Background
We participate in the third-party colocation market, providing customers with access to purpose-built data center environments
that deliver secure physical space, reliable electrical power, cooling systems and facility operations required to support IT and
networking equipment. Customers deploy and manage their own hardware, while the operator designs, builds and operates the
underlying infrastructure needed to maintain uptime, power availability and cooling requirements. Customers often utilize third-party
colocation services as part of a broader infrastructure strategy to accelerate deployment timelines, expand into additional
geographic markets or optimize capital allocation, while retaining control over their hardware, software and data. 
Within the third-party colocation market, providers offer wholesale, retail or hybrid colocation services, which differ primarily
based on contract size, deployment scale and customer profile. Our operations are primarily focused on wholesale colocation, which
typically involves large, long-term agreements with a limited number of customers, often with initial terms of 10 years or more for
dedicated suites, halls or entire buildings, with leased customer power capacity that can range from several megawatts to tens or
hundreds of megawatts per customer. Wholesale customers are commonly hyperscale cloud providers, AI and other HPC operators
and large enterprises with the operational capability to manage hardware and networking at scale.
Wholesale colocation agreements are commonly structured as either triple-net or modified gross leases, which differ in how
operating costs are allocated between the operator and the customer. Under a triple-net structure, the customer is generally responsible
for substantially all operating expenses associated with the leased space, including power, maintenance, taxes,  insurance and other
facility-related costs. Modified gross leases, by contrast, typically involve the operator retaining responsibility for certain facility-level
operating expenses, while the customer is billed separately for power and, in some cases, other variable operating costs. Both lease

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52 week high $23.63 low $6.20
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Economic Data
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Market Capitalization
Share price [CORZ] $16.23
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Lease and SBC Data:
Operating lease liability ($m) 101.4
Annual operating lease expense ($m) 19.2
Annual stock-based comp expense ($m) 98.2
Cost of Equity
16.23
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