New York City-based DSC Meridian Capital added nearly 1.4 million shares of Core Scientific in the third quarter. The net position change from the previous period was about $25.4 million.
Core Scientific is undergoing a strategic pivot from BTC mining to AI and HPC infrastructure, targeting higher-margin colocation revenue. The terminated CoreWeave acquisition leaves CORZ with a lucrative 12-year, $10B+ contract, providing high revenue visibility and strong margins. Despite high customer concentration and legacy digital asset exposure, I am bullish on CORZ given its aggressive g...
Core Scientific's transition from Bitcoin mining to High Performance Computing has been extremely strategic, allowing them to capitalize on the AI-driven data center boom. Its Colocation Services now deliver higher gross margins of 26% compared to its mining operations and are expected to reach up to ~80% on new CRWV contracts. CORZ-CRWV's partnership notably reduces CORZ's capital/balance shee...
New York City-based Kintayl Capital bought 570,054 shares of Core Scientific worth an estimated $10.2 million during the third quarter. The position accounts for 6.3% of Kintayl's 13F-reportable assets.
Asset manager VR Advisory Services acquired more than 1.2 million CORZ shares in the third quarter, increasing its U.S. equity exposure by approximately $21.7 million. The transaction represents 5.3% of the fund's reportable assets under management (AUM) at quarter-end.
The surge in demand for HPC and AI compute is driving demand for data center capacity across the industry. Blockfusion's Niagara Facility has become a sought-after location for customers pursuing high-density HPC/AI deployments.
Oaktree added 6.4 million shares of Core Scientific for an estimated $114.8 million in the third quarter. The Core Scientific position represents 1.8% of Oaktree's 13F reportable assets under management.
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