Jack Dorsey's Square to Invest More in Bitcoin Mining and Shut Decentralized 'Web5' Venture [Yahoo! Finance]
Core Scientific, Inc. (CORZ)
Company Research
Source: Yahoo! Finance
partly by giving up on creating a new decentralized internet dubbed " Web5 " and investing less in music streaming app Tidal. The decision was revealed the same week that Donald Trump won the U.S. presidential election, promising a far-friendlier environment in the world's largest economy for crypto. Bitcoin mining was an industry he pledged while campaigning to foster — likely welcomed news to a business suffering from dramatically lower profitability following the so-called halving earlier this year, which cut mining rewards by 50%. "We are scaling back our investment in TIDAL and winding down TBD [the business developing Web5]. This gives us room to invest in our bitcoin mining initiative, which has strong product market fit and a healthy pipeline of demand, and Bitkey, our self-custody wallet for bitcoin," the company said in its third-quarter shareholders letter. The restructuring isn't a complete surprise as Block said earlier this year that it plans to cut headcount by as
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CORZ
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