Core Scientific Inc. (CORZ) Reports Remarkable Fiscal Q1 2024 Results, Surpassing Revenue ...
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 10 2024
0mins
Should l Buy CORZ?
Source: Yahoo Finance
- Net Income: Core Scientific Inc. reported a significant improvement in net income, reaching $210.7 million compared to a loss of $0.4 million in the same period last year.
- Revenue: The company's revenue surged to $179.3 million, up 48.6% year-over-year, surpassing estimates.
- Adjusted EBITDA: Core Scientific's adjusted EBITDA increased to $88.0 million from $40.3 million, indicating enhanced operational efficiency.
- Cash Position: Ending the quarter with $98.1 million in cash and cash equivalents, showcasing a strengthened balance sheet.
- Bitcoin Mining and Infrastructure Expansion: The company mined 2,825 self-mined bitcoins and managed 745 megawatts of infrastructure, setting records in North America for both metrics.
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Analyst Views on CORZ
Wall Street analysts forecast CORZ stock price to rise
15 Analyst Rating
14 Buy
1 Hold
0 Sell
Strong Buy
Current: 17.270
Low
19.94
Averages
27.46
High
40.00
Current: 17.270
Low
19.94
Averages
27.46
High
40.00
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.
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- Agreement on Customary Standards: Two parties have agreed to maintain customary standards that will remain effective for a one-year period.
- Post-Execution Provisions: The provisions will take effect after the execution of a cooperation agreement.
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SEC Filing: The company is preparing for this change as part of its compliance with SEC regulations.
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Focus on Sec Filings: The agreement emphasizes the importance of SEC filings, indicating a commitment to regulatory compliance and transparency in operations.
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- Market Volatility Pressure: With the Nasdaq Composite down 0.09%, CoreWeave shares fell 5.83% to $90.44, highlighting the company's vulnerability amid broader market fluctuations.
- Upcoming Earnings Report: CoreWeave is set to report earnings on February 26, with an expected loss of 65 cents per share and revenue estimates of $1.53 billion, reflecting potential growth in the cloud infrastructure sector compared to last year's figures.
- Analyst Rating Dynamics: Despite short-term pressures, CoreWeave maintains a 'Buy' rating from several analysts, with Deutsche Bank raising its price target to $140, demonstrating confidence in the company's long-term prospects.
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- Holding Proportion Analysis: This acquisition represents approximately 2.5% of Oasis Management's reportable U.S. equity assets as of December 31, 2025, highlighting its strategic positioning in the digital infrastructure sector.
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CORE SCIENTIFIC: TWO SEAS REACH AGREEMENT ON CUSTOMARY STANDSTILL TERMS, VALID FOR ONE YEAR FOLLOWING COOPERATION AGREEMENT SIGNING
- Agreement on Customary Standards: Two parties have agreed to maintain customary standards that will remain effective for a one-year period.
- Post-Execution Provisions: The provisions will take effect after the execution of a cooperation agreement.
See More
CORE SCIENTIFIC INC. PLANS TO APPOINT TWO INDEPENDENT DIRECTORS BY 2026, ACCORDING TO SEC FILING
Core Scientific Appointments: Core Scientific plans to appoint two independent directors by 2026 to enhance its governance structure.
SEC Filing: The company is preparing for this change as part of its compliance with SEC regulations.
See More
CORE SCIENTIFIC INC ANNOUNCES COOPERATION AGREEMENT WITH TWO SEAS CAPITAL - SEC FILING
Cooperation Agreement: CORE Scientific has entered into a cooperation agreement with Two Seas Capital to enhance its operational capabilities.
Focus on Sec Filings: The agreement emphasizes the importance of SEC filings, indicating a commitment to regulatory compliance and transparency in operations.
See More
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- Executive Sell-off Impact: CoreWeave's CEO Michael Intrator sold 32,455 shares of Class A common stock worth $7.72 million on February 11, leading to downward pressure on the stock price, indicating market sensitivity to insider selling.
- Market Volatility Pressure: With the Nasdaq Composite down 0.09%, CoreWeave shares fell 5.83% to $90.44, highlighting the company's vulnerability amid broader market fluctuations.
- Upcoming Earnings Report: CoreWeave is set to report earnings on February 26, with an expected loss of 65 cents per share and revenue estimates of $1.53 billion, reflecting potential growth in the cloud infrastructure sector compared to last year's figures.
- Analyst Rating Dynamics: Despite short-term pressures, CoreWeave maintains a 'Buy' rating from several analysts, with Deutsche Bank raising its price target to $140, demonstrating confidence in the company's long-term prospects.
See More
Oasis Management Acquires New Position in Core Scientific
- New Investment Disclosure: On February 12, 2026, Oasis Management disclosed a new position by acquiring 2,643,729 shares of Core Scientific for $38.49 million, indicating a sustained interest in digital asset infrastructure.
- Holding Proportion Analysis: This acquisition represents approximately 2.5% of Oasis Management's reportable U.S. equity assets as of December 31, 2025, highlighting its strategic positioning in the digital infrastructure sector.
- Market Performance Review: As of February 12, 2026, Core Scientific shares were priced at $17.48, reflecting a 44.6% increase over the past year, outperforming the S&P 500 by 31.68 percentage points, suggesting positive market sentiment regarding its transformation.
- Financial Overview: Core Scientific's latest earnings report revealed a revenue decline to $81.1 million year-over-year; however, high-density colocation revenue increased from $10.3 million to $15.0 million, indicating a shift towards higher-margin service offerings.
See More
Helix Partners Sells Entire Stake in SLM Corporation
- Stake Sale Overview: On February 13, 2026, Helix Partners Management LP disclosed in an SEC filing the sale of its entire 200,000-share stake in SLM Corporation for approximately $5.54 million, indicating a cautious outlook on the company's future performance.
- SLM Financial Status: As of February 12, 2026, SLM shares were priced at $24.76, reflecting a 14.6% decline over the past year, and underperforming the S&P 500 by 27.5 percentage points during the same period, raising concerns about its growth potential.
- Investor Considerations: Despite SLM achieving a GAAP diluted EPS of $3.46 and a net interest margin of 5.21% in 2025, the delinquency rate rose to 4.0%, with guidance for net charge-offs in 2026 projected between $345 million and $385 million, signaling a trend of credit normalization.
- Future Outlook: Helix Partners' decision to trim its position may reflect a cautious stance on SLM's growth prospects, even as the company remains profitable and well-capitalized, prompting investors to focus on capital returns and credit metrics to assess the viability of holding the stock.
See More
