Added to YB: 2026-05-12
Pitch date: 2026-05-08
CORZ [neutral]
Core Scientific, Inc.
Author Info
Company Info
Core Scientific, Inc. provides infrastructure for high-density colocation services and digital asset mining in the United States.
Market Cap
$7.3B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
-111.37
P/E
-6.83
EV/Sales
23.78
Sector
Software
Category
growth
Core Scientific, Inc. (CORZ) — Q1 2026 Results
CORZ (earnings): Q1 strong operationally—243MW billing, >$350M annualized colo rev, $3.3B bond closed w/ lockbox allowing corp-level redeployment. 80-85% gross margin (up 500bp). But 500MW hyperscaler exclusivity expired w/o signed contract (2nd straight Q); 3 hyperscalers now engaged, original still interested. Mining winding down (1-2 sites by YE, eliminating $17M Q1 gross loss). Valuation: $9.2B EV/~$700M stabilized GP=13x; priced for CoreWeave ramp + partial Customer #2 conversion. Key catalyst: 2nd customer contract timing remains uncertain.
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