Core Scientific to Exit Bitcoin Mining by Year-End and Become a Pure-Play AI Data Center Provider
Core Scientific said on Thursday it plans to abandon Bitcoin mining entirely by year-end and reposition itself as a pure-play AI firm.
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Core Scientific shares are trading lower after Cantor Fitzgerald lowered its price target on the stock from $39 to $30.
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Core Scientific Reports Q3 2026 Financial Results and Strategic Pivot to Colocation
Core Scientific announced its third-quarter 2026 financial results, reporting revenue of $232.9 million and a net income of $1.18 billion, largely driven by a non-cash warrant gain. The company also confirmed plans to exit its Bitcoin self-mining business by the end of 2026 to focus exclusively on high-density colocation services.
Core Scientific Q3 2026 Earnings Call Transcript
Core Scientific (NASDAQ:CORZ) reported third-quarter financial results on Thursday. The transcript from the company’s third-quarter earnings call has been provided below.This transcript is brought to you by Benzinga
Core Scientific Reports Q3 2026 Financial Results
Core Scientific, Inc. reported third-quarter 2026 revenue of $232.9 million, exceeding analyst expectations of $196.4 million.
Keefe Bruyette Adjusts Price Targets for Core Scientific and Other AI Infrastructure Miners
Keefe Bruyette trimmed price targets for several Bitcoin miners, including Core Scientific, as part of a sector-wide valuation reset for companies pivoting to AI hosting.
B. Riley Adjusts Core Scientific Price Target to $31 From $42
B. Riley has revised its price target for Core Scientific, Inc. while maintaining a Buy rating on the stock.