A Bitcoin Miner Promised To Help A Texas Town. It Went Bankrupt Instead. Now, It's Pivoting To AI [Forbes]
Core Scientific, Inc. (CORZ)
Company Research
Source: Forbes
Now, emerging from bankruptcy, the company has convinced the city to support its even larger AI supercomputer. By Sarah Emerson , Forbes Staff T hree years ago , one of the world's largest bitcoin miners offered a lifeline to the town of Denton, Texas, a community burdened with tens of millions of dollars in debt. The miner, Core Scientific, wanted to build a data center in the city. In exchange for a massive power contract that would double Denton's energy footprint, the company would provide much needed revenue in the form of taxes and fees. Denton accepted. But within months of powering on, Core Scientific filed for bankruptcy after being saddled with its own outstanding debt. Now, on the heels of the artificial intelligence boom, Core Scientific has reinvented itself as a cloud computing company for AI startups. Last month, the former crypto miner announced that its Denton facility will transform into what it claims will be one of the largest AI supercomputers in North
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News
- Starboard sees an opportunity to create value at Riot Platforms amid growth in hyperscalers [MSNBC.com]MSNBC.com
- Starboard sees an opportunity to create value at Riot Platforms amid growth in hyperscalers [CNBC]CNBC
- Oppenheimer sees 32% upside in Block shares, upgrades to Outperform [Yahoo! Finance]Yahoo! Finance
- Core Scientific finds a balance in bitcoin mining and AI: CEO [Yahoo! Finance Canada]Yahoo! Finance Canada
- Core Scientific, Inc. (NASDAQ: CORZ) had its price target raised by analysts at BTIG Research from $19.00 to $20.00. They now have a "buy" rating on the stock.MarketBeat
CORZ
Earnings
- 11/6/24 - Miss
CORZ
Sec Filings
- 12/16/24 - Form 4
- 12/9/24 - Form 4
- 12/6/24 - Form 424B3
- CORZ's page on the SEC website