Core Scientific (NASDAQ:CORZ) Announces Quarterly Earnings Results

Core Scientific (NASDAQ:CORZ) issued its quarterly earnings data on Wednesday. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($1.04), FiscalAI reports. The business had revenue of $115.24 million during the quarter, compared to analyst estimates of $117.04 million. During the same quarter in the previous year, the business posted $1.25 EPS. The company’s quarterly revenue was up 44.9% on a year-over-year basis.

Here are the key takeaways from Core Scientific’s conference call:

• Closed a $3.3 billion CoreWeave project bond at 7.75% (net proceeds ~$2.9 billion) with a lockbox structure, enabling corporate‑level deployment of proceeds and supporting roughly $2 billion of planned 2026 capex.
• Billing 243 MW today (≈$350M annualized GAAP colocation revenue), expects >450 MW by end of summer and the full 590 MW by early 2027, and raised CoreWeave cash gross profit target to 80–85%.
• Accelerating development by investing ahead of leases—securing land, labor and long‑lead equipment to hit 12–14 month RFS targets and pursue campus growth (Pecos and Muskogee paths to ~1.5 GW each).
• Pursuing behind‑the‑meter and natural gas options (lead time ~12–14 months) with a mix of ownership and PPAs and active permitting efforts, which enables expansion but adds regulatory and execution complexity.
• Bitcoin mining will continue winding down through the year (only one or two sites expected running by year‑end) after monetizing most holdings, shifting the business mix toward colocation.

Core Scientific Price Performance

Shares of NASDAQ CORZ traded up $2.44 during trading on Wednesday, reaching $24.63. 39,169,850 shares of the stock traded hands, compared to its average volume of 14,489,662. The stock has a market capitalization of $7.77 billion, a P/E ratio of 21.05 and a beta of 5.45. Core Scientific has a 52-week low of $8.74 and a 52-week high of $25.01. The company has a 50-day moving average of $17.66 and a 200-day moving average of $17.47.

Core Scientific News Roundup

Here are the key news stories impacting Core Scientific this week:

• Positive Sentiment: Acquisition to accelerate Oklahoma buildout — Core Scientific signed a deal to acquire Polaris DS LLC for ~$421M to add land, substation access and up to ~440 MW of gross power adjacent to its Muskogee campus, supporting the company’s plan to scale Muskogee to ~1.5 GW of gross power and speed delivery of high‑density colocation capacity for AI/HPC customers. This is a direct growth catalyst for future revenue from AI customers. Polaris Acquisition
• Positive Sentiment: Capital plan to fund AI colocation expansion — Company announcements and coverage indicate Core Scientific has raised or arranged major financing (~$3.3B reported) aimed at expanding AI/high‑density colocation capacity, which supports aggressive buildout plans and de‑risking of future capacity starts. Financing for Expansion
• Positive Sentiment: Strong market interest / options flow — Unusual activity: a large increase in call option buying (roughly 196k calls), signaling bullish speculative or hedged institutional interest ahead of/after the corporate announcements. (No direct link available in feed.)
• Neutral Sentiment: Corporate governance update — Appointment of Jorge Ray as Principal Accounting Officer (April 30) is a routine exec hire that may modestly affect investor confidence in financial controls but is not an immediate earnings driver. Accounting Officer Appointment
• Negative Sentiment: Q1 earnings miss — Core Scientific reported a wider-than-expected Q1 EPS loss (MarketBeat cites ($1.06) EPS vs. consensus ≈ ($0.02)) and revenue slightly below estimates ($115.2M vs $117.0M). The EPS miss is the main negative catalyst and explains near‑term selling pressure in some sessions. Q1 Release
• Negative Sentiment: Insider selling — Director/officer Todd M. Duchene sold 10,000 shares at an average of $20.86 (disclosed), a small but visible insider sale that can be interpreted negatively by some investors. SEC Form 4

Wall Street Analyst Weigh In

Several brokerages have weighed in on CORZ. BTIG Research upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, January 6th. Needham & Company LLC upgraded Core Scientific from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, March 3rd. Wall Street Zen raised shares of Core Scientific to a “sell” rating in a report on Saturday, March 14th. Keefe, Bruyette & Woods raised their price objective on shares of Core Scientific from $19.00 to $25.00 and gave the stock a “moderate buy” rating in a report on Tuesday, January 27th. Finally, Canaccord Genuity Group lifted their price objective on shares of Core Scientific from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.07.

Insiders Place Their Bets

In related news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $20.86, for a total value of $208,600.00. Following the sale, the insider directly owned 1,980,348 shares in the company, valued at approximately $41,310,059.28. The trade was a 0.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 50,000 shares of company stock valued at $933,400. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Several large investors have recently modified their holdings of the business. Allworth Financial LP lifted its stake in shares of Core Scientific by 206.5% during the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock valued at $25,000 after buying an additional 950 shares in the last quarter. Osaic Holdings Inc. grew its stake in Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after buying an additional 1,066 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Core Scientific by 61.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock valued at $67,000 after buying an additional 1,507 shares in the last quarter. State of Wyoming bought a new stake in Core Scientific during the 4th quarter valued at $66,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Core Scientific during the 3rd quarter valued at $90,000.

Core Scientific Company Profile

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.