CORZ
USCore Scientific, Inc. ação
Information Technology · IT Services
$11.76last close
-42.9%~252d
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Price
-42.88% over 1Y1 auto-fib
Video teardown
A walkthrough of this page: the numbers, the levels, and where it sits.
Tese
em 2026-11-08
Bull case
STRUCTURAL: Power-infrastructure scarcity is the binding constraint for the AI buildout - CORZ owns ~1.2 GW of contracted, energized capacity at sites already permitted for high-density compute, which takes hyperscalers 24-36 months to greenfield.
The CoreWeave HPC contracts (initial $1.6B over 12 years, expanded through 2026 to multi-billion total contract value with 500+ MW dedicated) convert that power into recurring, contracted USD revenue at HPC margins materially above BTC self-mining.
- 500+ MW of HPC hosting contracted with CoreWeave through 2038, repricing CORZ from miner multiple to data-center multiple
- Post-Ch11 balance sheet (emerged Jan 2024) cleaner than peer hosting comps
- Optionality on retrofitting remaining ~700 MW of mining capacity to HPC as $NVDA Blackwell demand outruns hyperscaler builds
- BTC self-mining still throws off cash to fund HPC capex without dilution
- Tier-1 anchor tenant (CoreWeave) is itself $NVDA-backed and IPO-funded
Bear case
- Customer concentration: CoreWeave is the dominant HPC counterparty; any CRWV demand softness flows straight through
- HPC retrofit capex is heavy and tenant-funded structure shifts equity upside vs. an owner-operator data center
- BTC price + global hashrate determine the legacy segment cash flow that funds the pivot
- Power-cost exposure (ERCOT, grid policy) on long-dated contracts
- Re-rating already partially in the tape post-emergence - execution risk on MW-delivery cadence is the next leg
- Jun 2026 - CoreWeave contract expansion announced, bringing total contracted HPC hosting capacity to ~590 MW with ~$10B aggregate revenue potential over 12-year terms
- Mar 2026 - Additional CoreWeave HPC hosting amendment adding 70 MW, total contract value stepped up versus prior disclosures
- Jun 2025 - Expanded CoreWeave HPC hosting deals to ~382 MW contracted, multi-year, anchored at Denton TX site
- Jun 2025 - Initial CoreWeave HPC hosting contract: 200 MW, 12-year, ~$3.5B aggregate revenue potential
- Jan 2024 - Emerged from Chapter 11, relisted on Nasdaq under ticker CORZ
- 2023 - Initial $1.6B / 12-year CoreWeave HPC hosting framework signed pre-emergence
clientesCoreWeave · Bitmain · Foundry Digital
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Top correlated252d co-movement
Related research
Long-form analysis touching CORZ
- 4 minCore Scientific (CORZ) Q3 2026: colocation revenue up 58% in a quarter to $215M, 485 MW billingCore Scientific posted colocation revenue of $215.4M, up from $136.7M in the second quarter, on 485 MW of billing capacity, and Adjusted EBITDA of $133.6M. Net income of $1.18B came from a non-cash warrant gain; capex was $985M.
- 4 minTeraWulf (WULF) Q3 2026: HPC lease revenue doubles to $63M, 83% of revenue, CB-4 rent due this quarterTeraWulf posted revenue of $76.2M, of which $63.0M of HPC lease revenue, with 102 MW earning rent and 336 MW under construction. Net income of $709.9M came from a non-cash warrant gain; Adjusted EBITDA was minus $12.8M.
- 5 minIREN Q1 FY2027: AI cloud revenue nearly triples to $200M, the $4B run rate slips to JanuaryIREN posted revenue of $228M, up 66% in a quarter, with AI cloud revenue up 182% to $200M and bitcoin mining down to $28M. The backlog rose to $20.3B, the net loss was $263M, and the $4B run-rate target moved from year-end to January 2027.
- 8 minIREN Stock Explained: From Bitcoin Miner to AI CloudIREN (formerly Iris Energy) is turning its bitcoin mining sites into an NVIDIA GPU cloud, anchored by a $9.7B Microsoft deal. How it makes money and the risks.
Recent news
High-signal only
- GuruFocus.com2d agobullishCore Scientific Inc (CORZ) (Q3 2026) Earnings Call Highlights: Colocation Revenue Surges 60% as ...
- TheStreet2d agoTwo big U.S.-listed Bitcoin miners plan major exit for AI
- MT Newswires2d agoMacquarie Cuts Price Target on Core Scientific to $25 From $38, Keeps Outperform Rating
- Motley Fool3d agoCore Scientific (CORZ) Q3 2026 Earnings Call Transcript
- MarketBeat3d agoWhat Core Scientific (CORZ) Said on Its Q3 Earnings Call
- MT Newswires3d agoCore Scientific Swings to Q3 Earnings, Revenue Rise
- Zacks3d agoCore Scientific, Inc. (CORZ) Surpasses Q3 Earnings and Revenue Estimates
- Zacks3d agoCore Scientific, Inc. (CORZ) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Held by ETFs
- IGViShares Expanded Tech-Software Sector ETF0.14%
Key levels
- -20.8%$14.840.786 retr of 10.59->30.46 (52w) · 2026-11-06
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
- -35.3%$18.180.618 retr of 10.59->30.46 (52w) · 2026-11-06Out of reach · reference only
- -42.7%$20.520.5 retr of 10.59->30.46 (52w) · 2026-11-06Out of reach · reference only
- -48.6%$22.870.382 retr of 10.59->30.46 (52w) · 2026-11-06Out of reach · reference only
Facts
- Exchange
- US
- Currency
- USD
- Market cap
- $3.79B
- Last update
- 2026-11-06
Revenue (TTM)$592M
P/E -
P/S6.4×
Net margin-18.3%
Frequently asked questions
- Is CORZ in IGV?
- Yes, iShares Expanded Tech-Software Sector ETF (IGV) holds CORZ with 0.14% (as of 2026-11-06).
- What ETFs hold CORZ?
- Core Scientific, Inc. (CORZ) is held by IGV (0.14%).
- What sector is CORZ in?
- Core Scientific, Inc. is classified under GICS Information Technology (IT Services).
- What is CORZ's last close price?
- CORZ last closed at $11.76 on 2026-11-06.