Core Scientific (CORZ)

Analysis and information

What it does

Core Scientific designs, builds and operates large data centers for high-density colocation, mostly serving AI workloads. It is converting its remaining bitcoin mining sites to this use. It has facilities in Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma and Texas.

Role in the theme

Core Scientific is a data center landlord in the AI compute hosts (neoclouds) theme. In the first half of 2026, CoreWeave was the source of all its colocation revenue and about 77% of its total revenue.

Latest

• 10-15: Core Scientific set its Q3 2026 results for 11-05 before the market opens, with a call at 8:30 a.m. ET. It filed no 8-K from 10-15 to 10-29.
• 9-10: It gave an update on Texas power. At Pecos, 300 MW of existing load was conditionally approved in ERCOT's Batch Zero process, and 300 MW more as studied load. Final allocation comes when Batch Zero ends. Its planned 431 MW at Hunt was also conditionally approved.
• 7-28 (Q2 results): Colocation revenue was $136.7M of $164.2M total revenue. It was billing for 395 MW at quarter end and 437 MW by mid-July. It announced a partnership with AMD anchored by 15-year agreements for about 530 MW across five sites, and said total leased customer capacity reached about 1.1 GW.

What to watch

• Q3 results on 11-05 before the open, call at 8:30 a.m. ET.
• CoreWeave's own Q3 report on 11-10, given its share of Core Scientific's revenue.
• Final ERCOT allocations for its Texas sites.
• Billing growth as the AMD-anchored sites come online.