Despite having seen its share price fluctuating alongside Bitcoin since the halving event, Core Scientific has nonetheless delivered a net upside of 200%. Still, it is underpriced based on potential revenues to be obtained from HPC or High-Performance Computing leasing. Also, volatility is likely to continue in the short term due to predominant exposure to digital assets, but the strong operational performance and HPC focus are key advantages.
Core Scientific, Inc. (NASDAQ:CORZ ) Q2 2024 Earnings Conference Call August 7, 2024 4:30 PM ET Company Participants Steve Gitlin – Senior Vice President, Investor Relations Adam Sullivan – Chief Executive Officer Denise Sterling – Chief Financial Officer Conference Call Participants Greg Lewis – BTIG Lucas Pipes – B. Riley Securities Joe Flynn – Compass Point Research Brett Knoblauch – Cantor Fitzgerald Joseph Vafi – Canaccord Genuity Darren Aftahi – Roth Capital Partners Rosemarie Sison – Odeon Capital Kevin Dede – H.C.
The mean of analysts' price targets for Core Scientific, Inc. (CORZ) points to a 51.5% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
Bitcoin miner Core Scientific announced plans to significantly expand its AI business through a partnership with cloud provider CoreWeave. The deal is expected to add revenue of $6.7 billion over 12 years.
Core Scientific Inc (NASDAQ: CORZ) has recently been garnering a lot of attention from financial analysts. On Wednesday, Cantor Fitzgerald initiated coverage of the company, assigning an “overweight” rating with a compelling $20.00 price target.
Cantor Fitzgerald analyst Brett Knoblauch initiated coverage on Core Scientific, Inc. CORZ, with a price forecast of $20.
The average of price targets set by Wall Street analysts indicates a potential upside of 27.2% in Core Scientific, Inc. (CORZ). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
Core Scientific, Inc. (CORZ) made it through our "Recent Price Strength" screen and could be a great choice for investors looking to make a profit from stocks that are currently on the move.
Bitcoin miners are embracing artificial intelligence as a potential new revenue opportunity. Core Scientific recently signed a multibillion-dollar AI computing deal with CoreWeave, and is now moving aggressively into AI.
Post-halving, Bitcoin miners see their primary source of revenue cut by one-half. Miners typically sell Bitcoin in order to make up for any revenue shortfall, but some are now looking for ways to diversify operations into AI.
A top holding in bitcoin miners ETFs has announced it will provide additional infrastructure to CoreWeave as part of an existing deal. Core Scientific (CORZ) struck a deal with CoreWeave, the AI Hyperscaler, in early June.
Artificial intelligence (AI) is hungry for computing power, and bitcoin miners willing to repurpose their infrastructure stand to profit handsomely.