Core Scientific, Inc. (CORZ) Stock Price & How to Invest
Short answer
Core Scientific (Nasdaq: CORZ) is a US data-center operator that is converting its large bitcoin-mining power footprint into AI and high-performance-computing (HPC) colocation, anchored by a multi-year hosting contract with CoreWeave. It trades as a high-volatility infrastructure story where the thesis rides on executing the AI build-out on schedule, so investors typically size it as a speculative slice rather than a core holding.
CORZ stock price
As of 2026-07-08, Core Scientific, Inc. (CORZ) last closed at $23.50, up 75.0% over the past year. Over the past 52 weeks it has traded between $12.51 and $29.16.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Core Scientific, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Core Scientific, Inc. (CORZ) do?
Core Scientific runs large-scale data centers across the US that were originally built to mine bitcoin. Over 2025 and 2026 the company has pivoted hard toward hosting AI and HPC workloads, dismantling or repurposing mining rigs and selling down its bitcoin treasury to fund the build-out. Its centerpiece is a roughly 590 MW, 12-year colocation agreement with AI cloud provider CoreWeave carrying multibillion-dollar revenue potential, alongside a broader multi-gigawatt power pipeline the company is developing for high-density compute.
The investment picture is a bet on that transition rather than on today's earnings. Colocation revenue is growing quickly at healthy gross margins, and contracted future revenue and lease commitments are large, but reported results still show heavy net losses driven by impairments on retired mining gear and the cost of the pivot. A notable twist: CoreWeave agreed to acquire the whole company in mid-2025, then that merger was terminated in October 2025 after shareholders rejected it, leaving CORZ independent but still bound to CoreWeave as its largest hosting customer.
What's driving Core Scientific, Inc. (CORZ)?
1. CoreWeave hosting contract and AI colocation
The roughly 590 MW, 12-year CoreWeave agreement gives Core Scientific a large, contracted AI-hosting backlog with multibillion-dollar revenue potential over its term. Colocation revenue has climbed sharply (around $77.5M in the most recent quarter at roughly 57% gross margin), and management is targeting full CoreWeave delivery by early 2027. This anchored demand is the core of the equity story.
2. Power pipeline and capacity expansion
The company is developing a multi-gigawatt power pipeline (management has referenced roughly 4.5 GW) to convert into high-density AI and HPC capacity. Securing, energizing, and leasing that power at attractive per-megawatt rates is what would scale revenue well beyond the current run rate. Execution speed and cost of build-out are the swing factors.
3. Shift away from bitcoin mining economics
Core Scientific is winding down self-mining and reallocating power to AI hosting, where margins have been meaningfully higher than mining. It has been selling its bitcoin holdings to help fund the pivot. This reduces direct exposure to bitcoin price and network difficulty, trading crypto volatility for data-center customer-concentration and construction risk.
4. Balance sheet and financing capacity
The company raised roughly $3.3B via 7.75% senior secured notes due 2031 and reported liquidity near $1.04B, giving it capital to fund the AI build-out. Ample financing supports growth but adds interest cost and leverage, so the return depends on the new capacity generating cash faster than the debt compounds.
What are the risks to Core Scientific, Inc. (CORZ)?
CORZ carries substantial execution and concentration risk: a very large share of contracted future revenue depends on a single customer, CoreWeave, whose own demand and financial health drive the thesis. The company is still reporting large net losses (a recent quarter showed a net loss near $347M, including a roughly $266.5M impairment on mining assets), so profitability depends on the AI ramp arriving on schedule. Construction delays, power-availability constraints, rising interest costs on its 2031 notes, and any slowdown in AI/HPC demand could each materially hurt results. The stock is highly volatile, and residual bitcoin exposure plus the aftermath of the terminated CoreWeave merger add further uncertainty.
How is Core Scientific, Inc. (CORZ) valued? (approximate, JULY 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Core Scientific, Inc.'s investor relations page or your broker.
- Market cap: ~$7.5B
- Share price: ~$23
- Revenue (recent quarter): ~$115M
- Colocation revenue (recent quarter): ~$77.5M (~57% gross margin)
- Net income (recent quarter): ~-$347M (incl. ~$266.5M impairment)
- Liquidity / senior notes: ~$1.04B liquidity; ~$3.3B 7.75% notes due 2031
Core Scientific is valued as a growth-infrastructure story, not on current earnings, since reported results still show large losses tied to the mining-to-AI transition. The market cap reflects the contracted CoreWeave hosting backlog, large deferred revenue (around $654M) and future lease payments (around $3.39B), and the multi-gigawatt power pipeline. Because so much value sits in future contracted capacity, the stock is sensitive to any change in the AI ramp timeline or customer demand.
Who competes with Core Scientific, Inc. (CORZ)?
Bitcoin miners pivoting to AI/HPC
Riot Platforms (RIOT), MARA Holdings (MARA), CleanSpark (CLSK), TeraWulf (WULF), Cipher Mining (CIFR), Iren (IREN), and Applied Digital (APLD) are the closest peers, most of them converting mining power capacity into AI data-center hosting. Core Scientific is often cited as the blueprint for this pivot given its early, large CoreWeave contract.
Neocloud and AI data-center hosts
As Core Scientific becomes an AI-colocation landlord, it competes for capacity and customers with dedicated AI cloud and data-center operators. Its largest customer, CoreWeave, is itself a fast-growing GPU-cloud provider, illustrating both the demand tailwind and the customer-concentration risk in this category.
Traditional data-center and colocation operators
Established colocation and hyperscale-adjacent operators such as Equinix (EQIX) and Digital Realty (DLR), plus large hyperscalers building their own capacity, set the broader competitive and pricing backdrop for high-density compute hosting that Core Scientific is entering.
How to invest in Core Scientific, Inc. (CORZ)
There are three common ways to get CORZ exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so CORZ sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where CORZ fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Core Scientific, Inc. (CORZ)
CORZ is a bitcoin miner turning into an AI-data-center landlord, and its value hinges on delivering contracted HPC capacity on time while the mining business fades.
More on Core Scientific, Inc. (CORZ)
Whether CORZ is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is CORZ a buy?, and where the stock could go from here in the CORZ stock forecast.
For income investors, whether CORZ pays a dividend and how the payout looks is covered in does CORZ pay a dividend?
Build a basket around CORZ with Walnut
Use Core Scientific, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Core Scientific (CORZ) do?
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It operates large US data centers, originally built for bitcoin mining, and is converting that power capacity into hosting AI and high-performance-computing workloads. Its biggest project is a multi-year colocation contract to host AI infrastructure for CoreWeave.
Did CoreWeave acquire Core Scientific?
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No. CoreWeave agreed to acquire Core Scientific in an all-stock deal in mid-2025, but the merger was terminated on October 30, 2025 after Core Scientific shareholders declined to approve it. Core Scientific remains independent and still trades on Nasdaq as CORZ.
Is CORZ still a bitcoin miner?
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Less and less. The company has been winding down self-mining, repurposing power for AI hosting, and selling its bitcoin holdings to fund the transition. Bitcoin mining is now a shrinking part of the business relative to its growing colocation revenue.
Why did CORZ report a large loss recently?
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A recent quarter showed a net loss around $347M, driven largely by a roughly $266.5M non-cash impairment on mining equipment and infrastructure as the company pivots away from self-mining. Revenue was still growing, but the transition costs weighed heavily on reported earnings.
What is the CoreWeave hosting contract worth?
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Core Scientific has described a roughly 590 MW, 12-year colocation arrangement with CoreWeave carrying multibillion-dollar revenue potential over its term. This contracted backlog is a central reason investors value the AI-pivot story, though it also concentrates risk in a single customer.
How does CORZ compare to Riot, MARA, and IREN?
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All are bitcoin miners repurposing power capacity into AI and HPC data centers. Core Scientific is generally seen as further along because of its early, large CoreWeave contract and energized AI capacity, while peers like Riot, MARA, CleanSpark, TeraWulf, Cipher, Iren, and Applied Digital are at varying stages of the same pivot.
What are the main risks with CORZ?
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The biggest risks are customer concentration (heavy reliance on CoreWeave), execution and construction timelines for the AI build-out, large ongoing losses, rising interest costs on its 2031 senior notes, and high stock volatility. Any slowdown in AI/HPC demand or delays in energizing capacity could materially affect results.
How can I invest in CORZ?
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Core Scientific trades on the Nasdaq under the ticker CORZ and can be bought through any brokerage that offers US-listed stocks. Because it is a volatile, transition-stage infrastructure play, many investors treat it as a small speculative position and size it accordingly. Walnut is not an investment adviser, so do your own research or consult a licensed professional.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Core Scientific, Inc.'s investor relations page or your broker before making investment decisions.