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Operator of large data centers, pivoting from bitcoin mining to hosting AI/high-performance computing for CoreWeave.
Operator of large data centers, pivoting from bitcoin mining to hosting AI/high-performance computing for CoreWeave.
Under its CoreWeave contracts it is paid fees for powered space, cooling and operating staff, while CoreWeave supplies the AI chips, so it takes little technology risk but depends on one client. It emerged from bankruptcy in early 2024 after the 2022 crypto downturn; mining is the older business.
Moat: narrow (installed base, switching costs). Existing powered sites and grid interconnection are slow to replicate, anchored by long-term CoreWeave contracts.
Headquarters: Austin, Texas, US · Founded: 2017 · Employees: 325
Size Core Scientific (CORZ) is a United States Information Technology company (Packaged Software) with a market value of $3.78B, the 1381st largest of 3,117 United States companies the cockpit tracks. Shares closed at $11.76 on 6 Nov 2026.
Performance Over six months the shares fell 48.7%, against +3.8% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 20 in its peer set.
Growth Revenue grew 26.4% over the last twelve months (peer median +22.6%); the operating margin is -30.6% (peer median 9.8%).
Valuation It trades at 14.2× enterprise value to sales against a peer median of 5.1× (3rd most expensive of 21).
Credit Core Scientific has 3 bonds outstanding ($4.38B), rated BB by the agencies.
Short interest Short interest is 23.9% of the free float (15 Oct 2026).
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $440M | $319M | $511M | $502M | $640M |
| Revenue growth | — | -38% | +2% | -22% | — |
| Gross profit | $124M | $36.8M | $120M | $75.2M | $8.40M |
| EBITDA | -$60.0M | -$113M | $109M | $112M | -$18.5M |
| Net income | -$1.38B | -$281M | -$1.25B | -$246M | -$2.15B |
| Free cash flow | -$958M | -$451M | -$52.1M | $49.0M | -$179M |
| Capital expenditure | $1.72B | $739M | $95.2M | $16.2M | $384M |
| Total debt | $4.41B | $1.16B | $1.20B | $866M | $37.7M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Core Scientific CORZ | $3.78B | -49% | +26% | -31% | 14.2× | n/a |
| RIOT RIOT | $6.27B | -31% | +6% | -84% | 9.2× | n/a |
| MARA MARA | $2.45B | -51% | +1% | -123% | n/a | n/a |
| CleanSpark CLSK | $1.58B | -57% | +7% | -52% | n/a | n/a |
| Applied Digital APLD | $4.70B | -62% | +290% | -24% | 11.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CORZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -23.4% | +7.2% | lowest of 21 |
| 6-month return | -48.7% | +3.8% | 2nd lowest of 20 |
| Distance from 52-week high | -61.4% | -36.0% | 3rd lowest of 21 |
| Revenue growth (TTM) | +26.4% | +22.6% | 8th highest of 21 |
| Operating margin | -30.6% | 9.8% | 3rd lowest of 20 |
| EV / Sales | 14.2× | 5.1× | 3rd most expensive of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Core Scientific CORZ | United States | $3.78B | -49% | +26% | -31% | 14.2× | n/a | n/a |
| Geovis Technology 688568.SS | China | $3.78B | -45% | -64% | -70% | 21.9× | n/a | n/a |
| G-Bits Network Technology (Xiamen) 603444.SS | China | $3.77B | -14% | +35% | 40% | 2.9× | -0.9% | +17.7% |
| Koei Tecmo 3635.T | Japan | $3.74B | +15% | +19% | 43% | 4.9× | -5.7% | +7.9% |
| Thunder Software Technology 300496.SZ | China | $3.83B | -13% | +40% | 6% | 2.5× | n/a | n/a |
| Glory View Technology 301396.SZ | China | $3.72B | -49% | +53% | n/a | 12.7× | n/a | n/a |
| monday.com MNDY | United States | $3.72B | +22% | +24% | 3% | 2.1× | 23.6% | +50.2% |
| Life360 LIF | United States | $3.86B | +8% | +34% | 1% | 6.5× | n/a | n/a |
| Appian APPN | United States | $3.70B | +135% | +21% | 4% | 4.8× | 42.9% | +19.0% |
| Magnite MGNI | United States | $3.93B | +94% | +8% | 16% | 5.4× | 31.9% | +26.4% |
| DLocal DLO | United States | $3.94B | +2% | +57% | 18% | 2.3× | 2.4% | +60.0% |
| Kinaxis KXS.TO | Canada | $4.01B | +35% | +16% | 18% | 6.3× | 12.9% | +20.6% |
| Momenta Global 6880.HK | Hong Kong | $4.02B | n/a | +82% | -32% | 28.1× | n/a | n/a |
| First Advantage FA | United States | $4.04B | +47% | +33% | 11% | 3.5× | 20.8% | +25.3% |
| AvePoint AVPT | United States | $3.50B | +45% | +25% | 10% | 6.7× | 31.6% | +22.6% |
| Talkweb Information System 002261.SZ | China | $4.11B | -39% | +9% | 1% | 7.5× | n/a | n/a |
| Kingdee International Software 0268.HK | Hong Kong | $4.16B | +3% | +17% | 2% | 3.5× | 45.4% | +15.0% |
| Agilysys AGYS | United States | $3.42B | +69% | +15% | 13% | 9.6× | 22.9% | +18.4% |
| OPENLANE OPLN | United States | $4.22B | -9% | +13% | 17% | 3.1× | 11.1% | -2.4% |
| China National Software & Service 600536.SS | China | $4.22B | -20% | -16% | 0% | 6.2× | 49.7% | -7.3% |
| Sportradar SRAD | United States | $4.22B | +4% | +25% | 13% | 2.4× | 11.3% | +25.8% |
Core Scientific has 3 bonds outstanding with $4.38B face value. The agencies rate it BB.