Core Scientific: A Buy On Leading Bitcoin Production Numbers [Seeking Alpha]
Core Scientific, Inc. (CORZ)
Company Research
Source: Seeking Alpha
TevarakCore Scientific (NASDAQ:CORZBTC-USDsince its IPO in early 2022 due to the crypto bear market. This aggressive selling has now presented investors with an interesting opportunity. Core scientific is dominating production figures across the mining industry but has a market cap of roughly $1 billion at current prices. Today we will take a look at Core Scientific's recent events and discuss what investors can expect going forward from the company.Before we get started, I have made a crypto 'cheat sheet' that documents the important terms for newbie crypto investors. The sheet can be foundhere.Production UpdateCore's main product is Bitcoin which accounts for roughly 69% of its revenue. It also provides hosting services that accounted for 17% of revenue in the last quarter, with the remainder being equipment sales that should only provide a temporary windfall.In the first quarter, they reported revenue of $192.5 million, which is 255% higher than the previous year. They also report
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News
- Core Scientific to Expand its Denton, Texas Bitcoin Mining Data Center by 72 MegawattsBusiness Wire
- Core Scientific Files Registration Statement for Shares Held by Existing ShareholdersBusiness Wire
- Core Scientific Announces March 2024 Production and Operations UpdatesBusiness Wire
- Core Scientific, Inc. (NASDAQ: CORZ) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $5.00 price target on the stock.MarketBeat
- Core Scientific Announces Fiscal Fourth Quarter and Full Fiscal Year 2023 ResultsBusiness Wire