Core Scientific (NASDAQ:CORZ) Posts Earnings Results, Misses Expectations By $3.26 EPS

Core Scientific (NASDAQ:CORZ) announced its earnings results on Tuesday. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26), FiscalAI reports. The firm had revenue of $164.20 million for the quarter, compared to analyst estimates of $144.83 million.

Here are the key takeaways from Core Scientific’s conference call:

• AMD partnership adds major contracted growth: Core Scientific signed agreements covering approximately 530 megawatts across five campuses, representing more than $14 billion in base revenue over 15 years with 2.5% annual escalators. AMD also has exclusive reservation rights for up to an additional 2 gigawatts.
• Contracted portfolio and execution expanded: The company now reports approximately 1.1 gigawatts of contracted billable capacity and more than $24 billion of base contracted revenue. Core Scientific reached 437 billable megawatts ahead of schedule, while the remaining 150 megawatts of the CoreWeave build-out is expected to be completed in early 2027.
• Colocation revenue is accelerating: Second-quarter GAAP colocation revenue increased sequentially to $137 million, driven by the ramp to 437 billable megawatts, and management expects another meaningful increase in the third quarter. Bitcoin mining continues to wind down, with nearly 30% fewer miners online than at the end of the prior quarter.
• Large capital requirements and execution risks remain: The initial AMD build-out is expected to require approximately $6 billion, or $11 million-$12 million per megawatt, to be financed primarily through project-level bonds. Management cited elevated labor, equipment and supply-chain costs, while behind-the-meter expansion depends on fuel infrastructure and generation-equipment availability.

Core Scientific Trading Up 0.0%

Shares of CORZ opened at $20.75 on Wednesday. Core Scientific has a 12-month low of $12.60 and a 12-month high of $30.46. The stock has a market cap of $6.60 billion, a P/E ratio of -18.20 and a beta of 5.50. The company has a 50-day moving average of $25.32 and a two-hundred day moving average of $20.77.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald increased their price target on Core Scientific from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Sanford C. Bernstein restated an “outperform” rating and issued a $32.00 price objective on shares of Core Scientific in a research report on Wednesday, June 3rd. B. Riley Financial boosted their target price on Core Scientific from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Lucid Cap Mkts upgraded Core Scientific to a “strong-buy” rating in a research note on Friday, June 12th. Finally, BTIG Research reissued a “buy” rating and issued a $38.00 target price on shares of Core Scientific in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Core Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $30.77.

Insider Buying and Selling at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $22.30, for a total value of $223,000.00. Following the sale, the insider owned 1,999,101 shares of the company’s stock, valued at approximately $44,579,952.30. This represents a 0.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 80,000 shares of company stock worth $2,025,400. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Core Scientific

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP raised its holdings in Core Scientific by 206.5% in the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock valued at $25,000 after acquiring an additional 950 shares during the last quarter. Larson Financial Group LLC grew its holdings in Core Scientific by 936.7% in the fourth quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock valued at $27,000 after purchasing an additional 1,686 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after purchasing an additional 1,066 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Core Scientific during the 4th quarter worth $36,000. Finally, CoreCap Advisors LLC acquired a new position in shares of Core Scientific in the 2nd quarter valued at about $36,000.

Core Scientific News Roundup

Here are the key news stories impacting Core Scientific this week:

• Positive Sentiment: AMD partnership strengthens Core Scientific’s AI pivot. AMD agreed to secure up to 2.5 gigawatts of data-center capacity for AI deployments. The initial 530-megawatt rollout across five sites is covered by 15-year agreements and represents approximately $14 billion in potential base contracted revenue. AMD also received warrants to purchase 30 million CORZ shares at $23.47, with vesting tied to capacity deployment. Reuters AMD infrastructure partnership article
• Positive Sentiment: Colocation growth supports a shift away from bitcoin mining. Second-quarter revenue was $164.2 million, above estimates of $144.8 million. Colocation revenue reportedly surged to $136.7 million from $10.6 million a year earlier, while adjusted EBITDA reached $41.1 million, indicating stronger demand for AI-ready infrastructure. Core Scientific second-quarter results
• Positive Sentiment: Analyst and board developments add credibility. Needham reaffirmed a Buy rating with a $29 target, and BTIG maintained Buy with a $38 target. Core Scientific also appointed technology and AI-infrastructure veteran Mark W. Adams to its seven-member board. Core Scientific appoints Mark Adams article
• Neutral Sentiment: Options activity indicates heightened speculation. Traders purchased 141,404 CORZ call options, about 55% above typical daily volume. This reflects increased bullish interest but does not guarantee further gains.
• Negative Sentiment: KBW downgraded the stock to Market Perform. The firm cited valuation concerns following the AI deal, with a $25 price target. The downgrade contributed to an earlier decline in the shares and highlights the risk that investors have already priced in much of the partnership’s benefits.
• Negative Sentiment: Reported earnings and execution risks remain significant. Core Scientific posted a GAAP loss of $3.32 per share versus expectations for a $0.06 loss, although adjusted EPS cited by Zacks was $0.18. The company also spent approximately $797.5 million on capital expenditures to convert sites for high-density computing. An insider’s sale of 10,000 shares adds a modest negative signal, while AMD’s warrants could dilute shareholders.

About Core Scientific

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.