Core Scientific

ForkLog 229 01.11.2025

Riot Describes Bitcoin Mining as a Means to an End

Riot Platforms reported a net profit of $104.5 million in the third quarter, with record revenue of $180.2 million.

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ForkLog 51 07.07.2025

CoreWeave to Acquire Bitcoin Miner Core Scientific for $9 Billion

AI hyperscaler CoreWeave has signed a definitive agreement to purchase the American mining company Core Scientific, valuing it at $9 billion. Today is an exciting day for CoreWeave! We just announced an agreement to acquire @Core_Scientific, solidifying our position as the leading AI Cloud Platform—purpose-built to deliver unmatched performance and expertise for the AI era. […]

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ForkLog 4 28.01.2025

Bernstein Highlights Renewed TradFi Interest in Crypto Post-Trump Victory

Investors have acknowledged a resurgence of interest in cryptocurrencies and the need to ramp up activities in this sector following the U.S. presidential election. This is according to a Bernstein report, as reported by The Block. The firm’s clients are still uncertain about what “transformations await the digital asset regulatory regime.” “It’s just the beginning. […]

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ForkLog 11 11.09.2024

Core Scientific Bets on AI Computing for Exponential Growth

The value of Core Scientific could grow “exponentially” over the next few years due to its potential in AI computing. This was stated by the CEO of the mining company, Adam Sullivan, in an interview with Bernstein analysts, as reported by The Block. However, the results will depend on the firm’s ability to expand beyond […]

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ForkLog 19 12.07.2024

Core Scientific and Block’s $300 Million Deal for Bitcoin Mining Chips

The transaction for Core Scientific’s acquisition of 3-nanometer chips for bitcoin mining from Jack Dorsey’s Block is estimated to be around $300 million, according to analysts from Bernstein, as reported by The Block. On July 10, the companies announced a partnership to develop a cryptocurrency mining device based on a chip created by the Proto […]

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ForkLog 11 11.07.2024

Core Scientific to Acquire 3nm Bitcoin Mining Chips from Block

Mining firm Core Scientific will be the first to purchase 3nm chips for bitcoin mining from Jack Dorsey’s Block. The deal’s hash rate context amounts to 15 EH/s. Today, Core Scientific and @blocks announced an ongoing project involving Block’s latest bitcoin mining chip. -Core Scientific and Block will work together on a new miner to […]

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ForkLog 5 17.06.2024

Public Miners’ Market Capitalisation Hits Record $22.8 Billion

On June 15, the market value of 14 US-listed mining companies tracked by JPMorgan reached an all-time high of $22.8 billion, according to CoinDesk. Analysts noted that in the previous two weeks, the stock prices of nearly all companies in the sample outperformed Bitcoin, as investors reacted positively to news of Core Scientific’s (CORZ) deal […]

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ForkLog 12 07.06.2024

Riot Expands Stake in Rival as Core Scientific Rejects $1 Billion Acquisition

Analysts anticipated a wave of consolidations in the mining industry following the halving. Recent activities by major players in the sector have confirmed these forecasts. Core Scientific Rejects $1 Billion Offer from CoreWeave Mining firm Core Scientific rejected a non-binding proposal from AI company CoreWeave to acquire all outstanding shares at $5.75 each, totaling approximately […]

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ForkLog 16 04.06.2024

Core Scientific to Earn $3.5 Billion from AI Computing Deal

The mining company Core Scientific has inked a 12-year contract with AI firm CoreWeave to provide infrastructure with a capacity of 200 MW for hosting Nvidia graphics processors. Tonight, we announced that Core Scientific will be providing an additional ~200 MW of infrastructure to host @CoreWeave #HPC services. — ~200 MW of infrastructure for HPC […]

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ForkLog 10 26.03.2024

Core Scientific CEO Outlines Post-Halving Strategy

Core Scientific plans to allocate funds for purchasing bitcoin miners from struggling industry players following the halving, as revealed by the company’s CEO, Adam Sullivan, to Blockworks. The company emerged from bankruptcy proceedings in January. Through a reorganization lasting over a year, Core Scientific reduced its debt burden to $571 million by converting equipment loans […]

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ForkLog 71 01.02.2024

Core Scientific Mines Over 19,200 BTC in a Year

In 2023, the bankrupt mining company Core Scientific mined 19,274 BTC (approximately $812 million at the time of writing). In 2023, Core Scientific produced 19,274 Bitcoin, comprising 13,762 self-mined and 5,512 client-mined in our data centers, making us the largest listed producer of #Bitcoin in North America! As every miner’s performance is crucial to our […]

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ForkLog 20 17.01.2024

Bankruptcy Court Approves Core Scientific’s Reorganization Plan

The bankruptcy court has approved the reorganization plan of the mining company Core Scientific, with a relisting of shares on the Nasdaq by the end of January. In December, the firm indicated mid-to-late January 2024 as the timeline for implementing the initiative. As a result, the company’s shareholders will receive approximately 60% of the new […]

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