Covalis Acquires New Stake in Core Scientific
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 58 minutes ago
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Should l Buy CORZ?
Source: Fool
- New Investment Position: Covalis (Gibraltar) Ltd disclosed a new position in Core Scientific by acquiring 2,080,550 shares worth $30.29 million in Q4 2026, indicating strong confidence in the company's future prospects.
- Significant Stake: This acquisition brings Covalis's stake in Core Scientific to 42.7% of its total assets under management, highlighting a strategic focus on the digital asset sector.
- Strong Market Performance: As of last Thursday, Core Scientific shares were priced at $16.24, reflecting an 81% increase over the past year, significantly outperforming the S&P 500's roughly 20% gain, suggesting positive market sentiment.
- Transformation Potential: Core Scientific is repositioning its facilities for high-density colocation and AI workloads, with colocation revenue soaring to $65 million in 2025 from $24 million the previous year, indicating a surge in demand for high-density computing capacity.
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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: 16.540
Low
19.94
Averages
27.46
High
40.00
Current: 16.540
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.
- New Investment Position: Covalis (Gibraltar) Ltd initiated a new position in Core Scientific by acquiring 2,080,550 shares worth $30.29 million in Q4, indicating strong confidence in digital asset infrastructure and likely enhancing its market position in this sector.
- Significant Holding: This acquisition makes Core Scientific the second-largest holding in Covalis's portfolio, representing approximately 43% of its 13F AUM, reflecting the company's importance in Covalis's investment strategy and potentially influencing future investment decisions.
- Business Transformation Potential: Core Scientific is transitioning from bitcoin mining to high-density colocation and AI workloads, with a projected scalable pipeline of about 1.5 gigawatts, indicating a strategic positioning in the rapidly growing AI infrastructure market.
- Substantial Revenue Growth: In 2025, Core Scientific's colocation revenue surged to approximately $65 million, up from about $24 million the previous year, demonstrating rising demand for high-density compute capacity, which could yield significant returns for Covalis's investment.
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- New Investment Position: Covalis (Gibraltar) Ltd disclosed a new position in Core Scientific by acquiring 2,080,550 shares worth $30.29 million in Q4 2026, indicating strong confidence in the company's future prospects.
- Significant Stake: This acquisition brings Covalis's stake in Core Scientific to 42.7% of its total assets under management, highlighting a strategic focus on the digital asset sector.
- Strong Market Performance: As of last Thursday, Core Scientific shares were priced at $16.24, reflecting an 81% increase over the past year, significantly outperforming the S&P 500's roughly 20% gain, suggesting positive market sentiment.
- Transformation Potential: Core Scientific is repositioning its facilities for high-density colocation and AI workloads, with colocation revenue soaring to $65 million in 2025 from $24 million the previous year, indicating a surge in demand for high-density computing capacity.
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- Core Scientific Loan Facility: The Core Scientific loan facility has matured 364 days after its closing date.
- SEC Filing: This development has been documented in a filing with the Securities and Exchange Commission (SEC).
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Loan Facility Announcement: Core Scientific has secured a senior secured loan facility amounting to $500 million.
Purpose of the Loan: The loan is intended to provide financial support for the company's operations and growth initiatives.
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Core Scientific's Loan Facility: Core Scientific has entered into a loan facility agreement with Morgan Stanley Senior Funding to secure additional funding.
Financial Strategy: This agreement is part of Core Scientific's strategy to enhance its financial position and support its operations amidst market challenges.
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- Liquidity Enhancement: Core Scientific has completed a $500 million loan agreement with Morgan Stanley, with a 364-day term, significantly strengthening the company's liquidity to support the expansion of its digital infrastructure platform.
- Data Center Expansion Strategy: The financing will be utilized for expanding high-density colocation infrastructure and accelerating data center development, thereby expediting project readiness timelines and enhancing the company's competitive position in the market.
- Increased Financial Flexibility: CEO Adam Sullivan stated that the additional financing capacity will enable the company to operate decisively by deploying capital to expedite project timelines, further solidifying its role as a compelling infrastructure provider.
- Earnings Snapshot: Despite reporting a fourth-quarter adjusted loss of 29 cents and a drop in sales from $94.9 million to $79.76 million, both missing market expectations, the stock has risen 61.54% over the past year, indicating strong investor confidence.
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