# Core Scientific

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Company

Core Scientific, Inc. Type Public Traded as Nasdaq: CORZ Industry Cloud computing Founded 2017; 9 years ago (2017) (as Atlantic Crypto) in Seattle Founders Darin Feinstein Mike Levitt Headquarters Dover, Delaware , United States Key people Adam Sullivan (CEO) Services Access to high-performance computing centers, cloud computing, AI infrastructure, Bitcoin mining Revenue US$319 million (2025) Number of employees 325 (2025) Website www.corescientific.com

**Core Scientific, Inc.** is a [US-based](/source/United_States) company with its registered office in [Dover](/source/Dover%2C_Delaware), [Delaware](/source/Delaware). Core Scientific operates [data centers](/source/Data_center). Originally active in [bitcoin](/source/Bitcoin) mining, the company has shifted its focus to building [GPU](/source/Graphics_processing_unit) [cloud](/source/Cloud_computing) and [colocation](/source/Colocation_centre) offerings for large customers' [AI](/source/Artificial_intelligence) applications.[1]

Core Scientific has been listed on the US technology exchange [Nasdaq](/source/Nasdaq) since its [IPO](/source/Initial_public_offering) in January 2022.

## History

Core Scientific was founded in [Seattle](/source/Seattle) in 2017, but later relocated its operational headquarters to [Austin](/source/Austin%2C_Texas). Its founders include [B. Kevin Turner](/source/B._Kevin_Turner), former COO of [Microsoft](/source/Microsoft). The company initially specialized in [Bitcoin mining](/source/Bitcoin_mining) using [renewable energy](/source/Renewable_energy) and digital asset infrastructure.[2][3]

In 2021, Core Scientific announced plans to go public via a [SPAC](/source/Special-purpose_acquisition_company) merger with *Power & Digital Infrastructure Acquisition Corp*.[3] The IPO was completed in January 2022, with a valuation of over $4 billion at the time of listing, raising $190 million for Core Scientific.[4]

However, at the end of 2022, Core Scientific filed for [bankruptcy](/source/Bankruptcy) under [Chapter 11](/source/Chapter_11%2C_Title_11%2C_United_States_Code) following a sharp drop in Bitcoin prices and high debt levels. Operations continued during the proceedings.[5][6] In January 2024, the company emerged from bankruptcy after undergoing extensive restructuring and reorganization.[7]

Since 2024, the company has been increasingly focusing on [high-performance computing](/source/As_a_service) (HPC) for [artificial intelligence](/source/Artificial_intelligence). In 2025, contracts worth US$10 billion were signed for the operation of data centers.[8]

In July 2025, [CoreWeave](/source/CoreWeave) announced its intention to acquire Core Scientific in a deal worth US$9 billion.[9][10]

In March 2026, it was announced that Core Scientific had sold approximately $175 million worth of Bitcoin holdings to accelerate the expansion of its AI infrastructure. Bitcoin mining, on the other hand, is to be discontinued.[11] In addition to selling its Bitcoin holdings, the company also took out a billion-dollar loan to build new data centers in several US states.[12][13]

Core Scientific currently operates 10 data centers (as of March 2026) spread across seven US states.[14]

## References

1. **[^](#cite_ref-1)** ["Core Scientific pivots to high-density colocation amid restatements"](https://www.theglobeandmail.com/investing/markets/stocks/CORZ/pressreleases/545820/core-scientific-pivots-to-high-density-colocation-amid-restatements/). *The Globe and Mail*. Retrieved 2026-03-07.

1. **[^](#cite_ref-2)** MacKenzie Sigalos (2021-05-19). ["Former Microsoft executive Kevin Turner resigns as CEO of crypto mining company Core Scientific"](https://www.cnbc.com/2021/05/19/former-microsoft-exec-kevin-turner-resigns-as-core-scientific-ceo.html). Retrieved 2026-03-06.

1. ^ [***a***](#cite_ref-:0_3-0) [***b***](#cite_ref-:0_3-1) Taylor Soper (2021-07-21). ["Core Scientific, which started in Seattle but moved HQ to Austin, to go public at a $4.3B valuation"](https://www.geekwire.com/2021/core-scientific-started-seattle-relocated-austin-going-public-4-3b-valuation/). *GeekWire*. Retrieved 2026-03-06.

1. **[^](#cite_ref-4)** ["Core Scientific to Begin Trading on Nasdaq"](https://investors.corescientific.com/news-events/press-releases/detail/37/core-scientific-to-begin-trading-on-nasdaq). 2022-01-20. Retrieved 2026-03-06.

1. **[^](#cite_ref-5)** Reuters (2022-12-21). ["Krypto-Miner Core Scientific schlüpft unter Gläubigerschutz"](https://www.handelsblatt.com/finanzen/maerkte/devisen-rohstoffe/bitcoin-krypto-miner-core-scientific-schluepft-unter-glaeubigerschutz/28881734.html). *www.handelsblatt.com* (in German). Retrieved 2026-03-07. {{[cite web](https://en.wikipedia.org/wiki/Template:Cite_web)}}: |last= has generic name ([help](https://en.wikipedia.org/wiki/Help:CS1_errors#generic_name))

1. **[^](#cite_ref-6)** ["Core Scientific files for bankruptcy as crypto winter bites"](http://web.archive.org/web/20230130192431/https://www.reuters.com/technology/bitcoin-miner-core-scientific-file-chapter-11-bankruptcy-cnbc-2022-12-21/). *Reuters*. Archived from [the original](https://www.reuters.com/technology/bitcoin-miner-core-scientific-file-chapter-11-bankruptcy-cnbc-2022-12-21/) on 2023-01-30. Retrieved 2026-03-07.

1. **[^](#cite_ref-:1_7-0)** ["Core Scientific, Inc. Emerges from Chapter 11 with Strengthened Balance Sheet and Enhanced Competitive Position"](https://investors.corescientific.com/news-events/press-releases/detail/13/core-scientific-inc-emerges-from-chapter-11-with-strengthened-balance-sheet-and-enhanced-competitive-position). 2024-01-23. Retrieved 2026-03-06.

1. **[^](#cite_ref-8)** [Core Scientific's $10 Billion AI Shift Unlocks Triple-Digit Upside](https://www.nasdaq.com/articles/core-scientifics-10-billion-ai-shift-unlocks-triple-digit-upside) NASDAQ

1. **[^](#cite_ref-9)** Novet, MacKenzie Sigalos,Jordan (2025-07-07). ["CoreWeave to acquire Core Scientific in $9 billion all-stock deal"](https://www.cnbc.com/2025/07/07/coreweave-to-acquire-core-scientific-in-9-billion-all-stock-deal.html). *CNBC*. Retrieved 2026-03-07.{{[cite web](https://en.wikipedia.org/wiki/Template:Cite_web)}}: CS1 maint: multiple names: authors list ([link](https://en.wikipedia.org/wiki/Category:CS1_maint:_multiple_names:_authors_list))

1. **[^](#cite_ref-10)** ["The merger that is setting a benchmark for AI"](https://www.ft.com/content/3d59700b-7fd1-4741-bc6a-79f61e0f648b). *www.ft.com*. Retrieved 2026-03-07.

1. **[^](#cite_ref-11)** ["CORZ sells $175 million in BTC in January as AI pivot accelerates"](https://www.coindesk.com/markets/2026/03/03/core-scientific-sells-usd175-million-in-bitcoin-as-ai-pivot-accelerates). *www.coindesk.com*. Retrieved 2026-03-07.

1. **[^](#cite_ref-12)** IT-Boltwise (2026-03-05). ["Core Scientific sichert sich Milliardenkredit für KI- und HPC-Infrastruktur"](https://www.it-boltwise.de/core-scientific-sichert-sich-milliardenkredit-fuer-ki-und-hpc-infrastruktur.html). *IT BOLTWISE® x Artificial Intelligence* (in German). Retrieved 2026-03-06.

1. **[^](#cite_ref-13)** ["Bitcoin Miner Core Scientific Bets on AI Boom With $1 Billion Backing From Morgan Stanley"](https://www.financemagnates.com/cryptocurrency/bitcoin-miner-core-scientific-bets-on-ai-boom-with-1-billion-backing-from-morgan-stanley/). *Financial and Business News | Finance Magnates*. 2026-03-05. Retrieved 2026-03-07.

1. **[^](#cite_ref-14)** ["Company Info"](https://investors.corescientific.com/company-information). 2026. Retrieved 2026-03-06.

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Adapted from the Wikipedia article [Core Scientific](https://en.wikipedia.org/wiki/Core_Scientific) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Core_Scientific?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.