Core Scientific Inc (CORZ) AI Stock Analysis

• Market Cap: $5.35B
• Dividend Yield: N/A
• Average Volume (3M): 12.09M
• Price to Earnings (P/E): 5.4
• Beta (1Y): 2.89
• Revenue Growth: -40.08%
• EPS Growth: N/A
• Country: US
• Employees: 325
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): 0.42
• Shares Outstanding: 315,332,640
• 10 Day Avg. Volume: 15,028,680
• 30 Day Avg. Volume: 12,092,478
• PEG Ratio: 0.19
• Price to Book (P/B): -4.81
• Price to Sales (P/S): 14.52
• P/FCF Ratio: -10.27
• Enterprise Value/Market Cap: 1.11
• Enterprise Value/Revenue: 18.58
• Enterprise Value/Gross Profit: 156.39
• Enterprise Value/Ebitda: 81.49
• 1Y Price Target: $25.67
• Price Target Upside: 51.27% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 13
• EPS Forecast (FY): 0.09
• Revenue Forecast (FY): $674.14M

• Rating: 48 Neutral
• Price Target: $17.00 ▲(0.18% Upside)
• Action: Reiterated Date: 03/07/26
• Date: Action: Reiterated 03/07/26

The score is held down primarily by weak fundamentals (declining revenue, ongoing losses, negative equity/high leverage, and sharply negative latest-year free cash flow) and bearish technicals (price below key moving averages with negative MACD). Partially offsetting these are a low P/E valuation and earnings-call signals of accelerating AI colocation build-outs with meaningful financing capacity, plus incremental liquidity from the new term loan.

Positive Factors

Operational scale-up: energization & billing ramp

Sustained energization and an expanding billing base indicate durable operational execution. Converting energized megawatts into recurring colocation revenue reduces reliance on volatile mining income, supports longer-term revenue visibility, and strengthens the company’s ability to monetize large-scale data center capacity.

Anchor CoreWeave contract and site deliveries

A sizable, multi-site CoreWeave commitment creates structural demand for high-density colocation and provides an underwriting base for project economics. Successful deliveries demonstrate capability to serve hyperscaler-scale customers, improving competitive positioning, repeatability of builds, and attractiveness for asset-backed financing.

Material liquidity and financing optionality

Meaningful near-term liquidity plus broad access to financing materially reduces the risk that the company cannot fund multi-year buildouts. Availability of asset-backed and project-level financing supports paced expansion, lowers execution funding risk, and enables converting pipeline capacity to revenue without sole reliance on equity raises.

Negative Factors

Highly stressed balance sheet

Persistent negative equity and a large debt burden materially constrain financial flexibility. This structural leverage raises refinancing and covenant risks, makes additional secured financing more costly, and increases the chance that future growth must be funded with restrictive project financing or dilutive capital.

Declining revenue and compressed margins

A multi-year revenue decline and sharply compressed gross margins indicate structurally challenged earnings power. Weaker top-line and margin volatility reduce free cash flow availability, impair reinvestment capacity into colocation builds, and increase dependence on external capital to sustain growth.

Transition timing & monetization lag

The company’s shift from mining to colocation is capital intensive and revenue recognition lags physical energization. This structural timing gap extends cash-payback horizons, amplifies sensitivity to construction, supply-chain and contract delays, and prolongs exposure to mining-revenue volatility during the transition.

Core Scientific Inc Business Overview & Revenue Model

Company Description

Core Scientific, Inc. operates facilities for digital asset mining and colocation services in North America. It provides blockchain infrastructure, software solutions, and services. The company mines digital assets for its own account and provides hosting colocation services for other large-scale miners. It operates in two segments, Equipment Sales and Hosting. The company owns and operates computer equipment that is used to process transactions conducted on one or more blockchain networks in exchange for transaction processing fees rewarded in digital currency assets, commonly referred to as mining; and datacenter facilities to provide colocation and hosting services for distributed ledger technology, also commonly known as blockchain. It also develops blockchain-based platforms and applications, including infrastructure management, security technologies, mining optimization, and recordkeeping. The company is headquartered in Austin, Texas. On December 21, 2022, Core Scientific, Inc. filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas.

How the Company Makes Money

Core Scientific primarily makes money through two main revenue streams: (1) Digital asset mining revenue, where the company operates its own bitcoin mining equipment to earn bitcoin from the network (block rewards and transaction fees) and then monetizes those earnings, typically by selling bitcoin or holding it as part of treasury management; this revenue is influenced by bitcoin price, network difficulty/hashrate, and the company’s access to low-cost, reliable power and uptime. (2) Hosting and infrastructure services, where it provides data center space, power, cooling, physical security, and operations/maintenance for third-party customers’ mining hardware (and, where applicable, HPC infrastructure), generating service revenue based on contracted capacity, power usage and/or fixed and variable service fees. Additional contributing factors to earnings can include long-term power arrangements, facility expansion and utilization rates, and customer contracts for capacity; specific partnership details not provided here are null.

Core Scientific Inc Financial Statement Overview

Summary

Financial profile is high-risk: revenue declined materially in the latest year and profitability remains weak with persistent losses and sharply compressed gross margin. The balance sheet is stressed with negative equity and heavy debt, while operating cash flow improved but free cash flow turned sharply negative in 2025, increasing funding pressure.

Income Statement

Revenue has been volatile and is down in the most recent year (2025: ~$319M vs. 2024: ~$511M). Profitability is weak: net losses persist across most years with very large negative net margins in 2022–2025, and gross margin compressed sharply in 2025 (~12% vs. ~24% in 2023–2024). The company did show it can generate profit in 2021 (positive net margin) and briefly improved in 2023 versus the extreme 2022 loss, but the overall trajectory since 2021 points to structurally challenged earnings power and unstable margins.

Balance Sheet

The balance sheet is highly stressed with negative stockholders’ equity from 2022 through 2025, which signals that liabilities exceed assets on an accounting basis and materially reduces financial flexibility. Total debt is very large (roughly ~$1.06B in 2025) relative to the capital base, and leverage metrics are distorted by negative equity, reinforcing elevated solvency risk. While total assets have increased meaningfully since 2023, the persistent equity deficit and heavy debt load remain the central weakness.

Cash Flow

Cash generation is mixed but shows some operational resilience: operating cash flow is positive in 2022–2025 and improved materially in 2025 (~$278M). However, free cash flow is inconsistent and turned sharply negative again in 2025 (about -$451M), indicating substantial cash outflows after investment needs. 2023 was a bright spot with positive free cash flow, but the recent reversal suggests ongoing funding pressure and reliance on external capital or balance sheet capacity to support growth and capex.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	319.02M	510.67M	502.40M	640.31M	544.48M
Gross Profit	37.90M	121.07M	123.46M	8.40M	238.86M
EBITDA	-75.78M	-1.16B	-63.12M	-1.84B	140.79M
Net Income	-288.62M	-1.32B	-246.49M	-2.15B	47.31M
Balance Sheet
Total Assets	2.35B	1.60B	712.16M	807.69M	2.44B
Cash, Cash Equivalents and Short-Term Investments	311.38M	836.20M	50.41M	15.88M	117.87M
Total Debt	1.06B	1.20B	865.54M	37.73M	818.81M
Total Liabilities	3.31B	2.42B	1.31B	1.22B	1.10B
Stockholders Equity	-962.74M	-820.18M	-596.94M	-409.35M	1.34B
Cash Flow
Free Cash Flow	-450.75M	-52.06M	48.95M	-396.47M	-116.01M
Operating Cash Flow	278.25M	42.90M	65.11M	205.19M	-56.73M
Investing Cash Flow	-740.75M	-95.19M	-3.00M	-590.78M	-423.84M
Financing Cash Flow	-63.10M	819.57M	-44.65M	306.15M	603.53M

Core Scientific Inc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 16.97
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CORZ, the sentiment is Positive. The current price of 16.97 is above the 20-day moving average (MA) of 16.65, below the 50-day MA of 17.30, and above the 200-day MA of 15.98, indicating a neutral trend. The MACD of -0.32 indicates Negative momentum. The RSI at 51.86 is Neutral, neither overbought nor oversold. The STOCH value of 78.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CORZ.

Core Scientific Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DLO	73 Outperform	$3.35B	21.00	34.42%	―	22.02%	12.42%
PAYO	71 Outperform	$1.58B	27.73	9.84%	―	10.58%	-45.52%
SPSC	70 Outperform	$2.22B	36.17	9.82%	―	19.28%	6.16%
EEFT	68 Neutral	$2.78B	11.26	23.78%	―	7.25%	-1.12%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
PAGS	60 Neutral	$2.79B	7.50	14.40%	1.40%	0.58%	5.76%
CORZ	48 Neutral	$5.35B	5.43	34.60%	―	-40.08%	―

Core Scientific Inc Corporate Events

Core Scientific Secures $500 Million Term Loan Facility

On March 4, 2026, Core Scientific Inc. entered into a senior secured credit agreement with lenders led by Morgan Stanley Senior Funding Inc., establishing a 364‑day term loan facility for $500 million with an accordion feature that could raise total commitments to $1 billion. The company drew the full $500 million on March 5, 2026, with proceeds earmarked for data center development and related energy and real estate costs, under covenants that restrict additional debt, dividends and certain transactions while pledging substantially all assets as collateral.

The facility, bearing interest at term SOFR plus 2.50%, includes requirements to use proceeds from asset sales, new debt, equity raises and certain fees to prepay the loan, and allows optional prepayment without penalty. The financing strengthens Core Scientific’s liquidity and gives it greater flexibility to accelerate project timelines for high‑density data center infrastructure, supporting its strategic shift from primarily digital asset mining toward AI‑oriented and high‑density colocation services, with implications for lenders, equity holders and customers as the balance sheet takes on short‑term secured leverage tied to development milestones.

The most recent analyst rating on (CORZ) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Core Scientific Inc stock, see the CORZ Stock Forecast page.

Core Scientific pivots to high-density colocation amid restatements

Core Scientific reported fourth-quarter 2025 revenue of $79.8 million, down from $94.9 million a year earlier, as a sharp drop in bitcoin production weighed on digital asset self-mining revenue despite higher bitcoin prices. Colocation revenue, however, jumped to $31.3 million from $8.5 million, gross profit rose to $20.8 million, and net income swung to $216.0 million from a $291.1 million loss, driven largely by a non-cash fair value gain tied to warrant and contingent value right liabilities.

The company continued to pivot its business toward high-density colocation, energizing about 350 MW under its CoreWeave contract, planning to reach roughly 590 MW by early 2027, and securing a new Hunt County, Texas site expected to support about 430 MW while adding 300 MW of power capacity at existing locations. During the preparation of its 2025 financials following an auditor change, Core Scientific identified material errors in the capitalization of assets slated for demolition and will restate several 2024 and 2025 periods, a correction that does not affect revenue, adjusted EBITDA or net cash flows but may impact investor confidence in its historical reporting.

The most recent analyst rating on (CORZ) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Core Scientific Inc stock, see the CORZ Stock Forecast page.

Core Scientific Announces Governance Refresh and Board Changes

Core Scientific, Inc. has entered into a cooperation agreement with Two Seas Capital LP dated February 18, 2026, to reshape its board by adding three independent directors in stages through the 2027 annual meeting of stockholders, with each appointment made in consultation with Two Seas. Under the deal, the board size will be capped at nine members absent Two Seas’ consent, one current director will not be renominated in 2027, chairman Jordan Levy will not stand for re-election at the 2026 annual meeting, and Two Seas has agreed to standstill, voting, and mutual non-disparagement commitments, signaling a negotiated governance refresh that could alter the company’s leadership dynamics.

The most recent analyst rating on (CORZ) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Core Scientific Inc stock, see the CORZ Stock Forecast page.