Q3 Financial Performance: Core Scientific reported a Q3 GAAP EPS of -$0.46, missing expectations by $0.43, with total revenue of $81.1 million, a 14.9% decline year-over-year.
Digital Asset Mining Revenue: The company's digital asset self-mining revenue fell to $57.4 million, primarily due to a 55% decrease in bitcoin mined, despite an 88% increase in the average bitcoin price.
Hosted Mining Revenue Decline: Digital asset hosted mining revenue decreased to $8.7 million from $16.9 million, attributed to a strategic shift towards high-density colocation.
High-Density Colocation Growth: Revenue from high-density colocation rose to $15.0 million, up from $10.3 million, reflecting the expansion of colocation operations compared to the previous year.
Wall Street analysts forecast CORZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CORZ is 27.46 USD with a low forecast of 19.94 USD and a high forecast of 40.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
Wall Street analysts forecast CORZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CORZ is 27.46 USD with a low forecast of 19.94 USD and a high forecast of 40.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Buy
1 Hold
0 Sell
Strong Buy
Current: 18.080
Low
19.94
Averages
27.46
High
40.00
Current: 18.080
Low
19.94
Averages
27.46
High
40.00
BTIG
Gregory Lewis
Neutral -> Buy
upgrade
$23
2026-01-06
Reason
BTIG
Gregory Lewis
Price Target
$23
AI Analysis
2026-01-06
upgrade
Neutral -> Buy
Reason
BTIG analyst Gregory Lewis upgraded Core Scientific (CORZ) to Buy from Neutral with a $23 price target. The firm says the "dust settled" following Core Scientific's shareholder rejection of its merger with CoreWeave (CRWV). Core Scientific has been one of the worst performing stocks that have a signed contract to convert at least some power infrastructure away from crypto mining to high performance compute, the analyst tells investors in a research note. BTIG expects the company to "hit the ground running" in 2026, securing additional HPC colocation contracts, saying power infrastructure for compute remains strong.
Citizens
Greg Miller
Market Perform -> Outperform
upgrade
$30
2025-12-18
Reason
Citizens
Greg Miller
Price Target
$30
2025-12-18
upgrade
Market Perform -> Outperform
Reason
Citizens analyst Greg Miller upgraded Core Scientific (CORZ) to Outperform from Market Perform with a $30 price target. The firm cites the company's "robust growth prospects" for the upgrade. Core Scientific's power pipeline provides a solid foundation to secure additional high performance compute lease agreements with new customers beyond CoreWeave (CRWV), the analyst tells investors in a research note. Citizens believes this should allow the company to capture the accelerating demand for HPC infrastructure. Citizens believes the voting down of the CoreWeave takeover "brings a renewed strategic focus that positions CORZ as an undervalued HPC infrastructure provider with significant upside in the rapidly expanding HPC data center industry."
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Bernstein
Gautam Chhugani
Outperform
maintain
$17 -> $24
2025-11-03
Reason
Bernstein
Gautam Chhugani
Price Target
$17 -> $24
2025-11-03
maintain
Outperform
Reason
Bernstein analyst Gautam Chhugani raised the firm's price target on Core Scientific to $24 from $17 and keeps an Outperform rating on the shares. The firm notes that Bitcoin miners are now an integral part of the AI value chain, providing warm powered shells for AI data centers - considered the biggest bottleneck to execution. Every U.S listed Bitcoin miner has pivoted towards optimizing value of their power assets over maximizing Bitcoin upside. Bernstein updates the valuation model of miners within its coverage and has discarded our DCF valuation methodology to capture the different valuation multiple for Bitcoin mining and AI/HPC colocation business.
Roth Capital
Buy
maintain
$40
2025-10-31
Reason
Roth Capital
Price Target
$40
2025-10-31
maintain
Buy
Reason
Roth Capital raised the firm's price target on Core Scientific (CORZ) to $40 from $23.50 and keeps a Buy rating on the shares. Now that shareholders voted down the takeover by CoreWeave (CRWV), Core Scientific can resume its standalone path and restart talks with potential customers, the analyst tells investors in a research note. Roth sees near-term catalysts for the shares in customer announcements, financing, new sites, and existing power expansions. The firm believes Core Scientific is already in "fairly advanced" talks to firm power with feasibility studies completed and negotiations underway with utility providers.
About CORZ
Core Scientific, Inc. provides digital infrastructure for high-density colocation services and digital asset mining. The Company operates dedicated, purpose-built facilities for digital asset mining and is a provider of digital infrastructure, software solutions and services to its third-party customers. Its Digital Asset Self-Mining segment consists of digital asset mining for its own account. Its Digital Asset Hosted Mining segment consists of its digital infrastructure and third-party hosting services for digital asset mining. Its Colocation segment consists of providing high-density colocation services to third parties for graphics processing units (GPU)-based high-performance computing (HPC) operations. It employs its own large fleet of computers (miners) to earn digital assets for its own account and to provide hosting services for large digital asset-mining customers, and it is in the process of allocating and converting a significant portion of its 10 facilities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
