Core Scientific, Inc. CORZ

Company Overview

Core Scientific, Inc. is a digital infrastructure and data center company primarily engaged in large-scale bitcoin mining and high-performance computing (HPC) hosting, operating within the digital asset infrastructure, data center, and blockchain technology industries. The company generates revenue mainly through self-mining of bitcoin and hosting services provided to third-party mining customers, leveraging owned data center capacity and proprietary operational expertise. Its customer base includes institutional-scale digital asset miners and, increasingly, enterprise clients seeking HPC infrastructure.

The company is positioned as one of the largest owners and operators of purpose-built blockchain data centers in North America, with a strategic emphasis on low-cost power procurement, vertically integrated operations, and scale efficiencies. Founded in 2017, Core Scientific expanded rapidly during the 2020–2021 digital asset market cycle but faced financial distress following the 2022 cryptocurrency downturn and rising energy costs. The company filed for Chapter 11 bankruptcy protection in December 2022 and successfully emerged in January 2024 following a court-approved restructuring, substantially deleveraging its balance sheet and refocusing on operational efficiency and infrastructure optimization.