Core Scientific, Inc.
CORZ · Power-First Operator · Austin, Texas, USA
$27.20
-0.3% today
Market Thesis
Former Bitcoin miner converting its grid-secured power and data-center sites into AI/HPC colocation. Its edge is gigawatts of already-interconnected power being converted to host CoreWeave under a 12-year, ~590 MW take-or-pay anchor lease ($10B+ contracted revenue) across 5 sites, plus a stated ~3.0 GW leasable (~4.5 GW gross) development pipeline. Note: shareholders rejected CoreWeave's ~$9B all-stock acquisition on Oct 30, 2025, so Core Scientific remains an independent public company.
Power Position
Operational · energized0.35 GW
Contracted · not operational0.68 GW
Announced · pipeline2.10 GW
Operational power is energized and earning today. Contracted is signed but not yet drawing load. Announced is pipeline — grid agreements and stated intent. The gap between them is where the risk, and the re-rating, live.
Key Sites & Contracts
Recent News
Jun 27
May 6, 2026: Core Scientific announced plans to expand its Muskogee, Oklahoma campus to ~1.5 GW gross power (~1.0 GW leasable), including a $421M acquisition of Polaris DS LLC (440 MW gross power contracted with Oklahoma Gas & Electric); Q1 FY2026 reported ~350 MW energized, 243 MW delivered to CoreWeave, and a ~3.0 GW leasable development pipeline.