Core Scientific
Core Scientific operates 12 US data centers across 7 states with 1,300+ MW of contracted power, providing high-density colocation for AI and HPC workloads after pivoting from Bitcoin mining in 2024.
- Company typePublic
- Founded2017
- HeadquartersDover, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Core Scientific does
Core Scientific, Inc. (Nasdaq: CORZ) is a US-based digital infrastructure operator that has pivoted from Bitcoin mining to high-density colocation for AI and high-performance computing workloads. The company operates 12 purpose-built data center facilities across seven states (Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma, and Texas) with 1,300+ MW of contracted power, 520 MW currently leasable, another 700 MW in development, and a 4.5 GW gross power pipeline. Its flagship offering, High-Density Colocation, targets hyperscalers and AI/ML training customers with purpose-built facilities supporting GPU cluster deployments, complemented by its legacy Digital Mining service powered by the proprietary Midas fleet management software (claimed capable of managing up to 1 million miners) and the Plexus Service for cross-cloud workload processing.
The company's business model is long-duration colocation leasing of powered, cooled space to AI/HPC tenants, with revenue transitioning from Bitcoin mining (self-mining with hash-price exposure) to anchor-tenant colocation contracts. Q1 FY2026 revenue reached $115.2 million, up 45% year-over-year, with colocation revenue surging from $8.6 million to $77.5 million as 243 MW of capacity moved into billing status (representing approximately $350 million in average annualized colocation revenue). Core Scientific exited Chapter 11 bankruptcy in January 2024 and has since raised more than $4 billion in cumulative capital — including a $1 billion J.P. Morgan / Morgan Stanley credit facility and a $3.3 billion senior secured notes offering — to fund its AI infrastructure expansion and the $421 million Polaris DS acquisition at Muskogee, Oklahoma. Customers are concentrated in AI/ML, hyperscalers, government, financial services, healthcare, and oil & gas, with CoreWeave secured as a major anchor tenant at the Pecos, Texas campus.
Core Scientific firmographics
Firmographics- Name
- Core Scientific
- Legal name
- Core Scientific, Inc.
- Website
- https://corescientific.com
- Company type
- Public
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Core Scientific operates 12 US data centers across 7 states with 1,300+ MW of contracted power, providing high-density colocation for AI and HPC workloads after pivoting from Bitcoin mining in 2024.
- Ownership category
- akta.pro rank
Core Scientific industry classification
Industry- Product category
- AI Infrastructure / Data Center Colocation
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)
- SIC
- Electronic Computers (3571)
- akta.pro primary industry
- Retail Colocation (Multi-Tenant Data Centers) (HDABACAA)
- akta.pro secondary industries
- Wholesale Colocation (Powered Shells / Suites) (HDABACAB), Managed Colocation & Remote Hands Services (HDABACAD), Mining Hosting, Colocation & Managed Facilities (FSADAOAE)
Keywords
Where Core Scientific is headquartered
LocationHeadquarters
- HQ city
- Dover
- HQ country
- United States
- HQ region
- North America
Markets served
Core Scientific business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales
Core Scientific product offering
Product offeringCore offering
Core Scientific operates high-density data center colocation services purpose-built for AI and HPC workloads, delivering 1,300+ MW of contracted power across twelve owned U.S. facilities in Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma, and Texas. The company also operates an industrial-scale bitcoin mining service managed by its proprietary Midas fleet management software, and a Plexus cross-cloud processing service. The business is in active transition from bitcoin mining toward AI/HPC colocation, evidenced by colocation revenue rising from $8.6M to $77.5M year-over-year in Q1 FY2026.
Product overview
Core Scientific operates as a platform-plus-modules digital infrastructure provider centered on High-Density Colocation as its core product, supported by the Digital Mining service (with its proprietary Fleet Management Software/Midas platform for mining operations) and the Plexus Service for cross-cloud workload processing. The platform is delivered through twelve purpose-built data center facilities across seven U.S. states (Auburn AL; Dalton GA; Calvert City KY; Marble NC; Grand Forks ND; Muskogee OK; Austin, Denton, and Pecos TX), offering 1,300+ MW of contracted power for AI, HPC, and enterprise workloads. Industry-specific positioning covers AI & Machine Learning, Cloud, Financial Services, Government, Healthcare, Hyperscalers, Manufacturing, Media & Entertainment, Oil & Gas, Professional Services, and Retail. Complimentary Solutions provides expert support that complements the core colocation offering.
Differentiator
Problem solved
Functional benefit
Brands
- Plexus Service: Cloud-computing service referenced in the Privacy Policy that lets users process data using Core Scientific's resources across multiple cloud providers.
Products and services
- High-Density Colocation Scalable, energy-efficient high-density data center colocation service purpose-built for AI and high-density computing workloads, supporting 1,300+ MW of contracted power and rapid deployment for hyperscalers, AI/ML training, and enterprise HPC customers. Delivered through twelve owned facilities across Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma, and Texas, with advanced cooling and power optimization for high-density GPU clusters.
- Digital Mining Industrial-scale Bitcoin mining service powered by proprietary Midas fleet management software capable of managing up to 1 million miners, with continuous thermal monitoring and real-time hash price analysis. Includes optimized power infrastructure, advanced cooling systems, and on-site expert technicians across Core Scientific's data center facilities.
- Complimentary Solutions Expert support services ensuring seamless operations and peak infrastructure performance for Core Scientific's high-density colocation customers, complementing the core colocation offering with operational management and optimization guidance.
- Plexus Service A service allowing customers to process data using Core Scientific's computing resources across various cloud computing providers, collecting additional information such as transactions, login credentials, and billing details, with customer-uploaded data processed using encryption at rest.
Companies that use Core Scientific
Customer profileIdeal customer profiles4 records
Core Scientific technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability3 records
Core Scientific partnerships and signals
Strategic signalRecent moves10 records
Expansion highlights6 records
Core Scientific competitors and assessment
Company assessmentDirect peers
- Applied Digital: Applied Digital runs a similar bitcoin-mining-to-AI-colocation pivot, leasing high-density capacity at its North Dakota and other campuses to neoclouds and hyperscalers. It is the closest publicly traded analog to Core Scientific's strategy and customer profile.
- Hut 8: Hut 8 operates bitcoin mining sites and has been pivoting into HPC/AI colocation through its U.S. Data Centers segment and the American Bitcoin carve-out. It overlaps directly with Core Scientific on mining heritage, U.S. data center footprint, and AI/HPC growth strategy.
- IREN Limited: IREN (formerly Iris Energy) operates large-scale bitcoin mining data centers that it is actively repositioning for AI/HPC workloads. Like Core Scientific, it is a publicly traded ex-miner using existing powered campuses to capture AI hosting demand.
- TeraWulf: TeraWulf operates bitcoin mining sites (notably Lake Mariner in New York) and has been expanding into HPC and AI hosting. It shares the mining-to-AI pivot narrative and U.S. data center footprint with Core Scientific.
Emerging players
- CoreWeave: CoreWeave is a neocloud GPU provider that was Core Scientific's failed merger partner and is now its anchor tenant at Pecos. It is the largest buyer of high-density AI colocation capacity, making it both a peer in AI infrastructure and Core Scientific's most important customer.
- Riot Platforms: Riot Platforms is a U.S. bitcoin miner evaluating HPC/AI hosting at its Corsicana and Rockdale sites. It is a partial-overlap peer on the mining side and a fellow ex-miner evaluating AI colocation economics.
- Cipher Mining: Cipher Mining operates large-scale bitcoin mining data centers in Texas and is exploring HPC and AI hosting opportunities. It overlaps with Core Scientific on U.S. mining operations and the broader pivot discussion.
Broad incumbents
- Equinix: Equinix is the largest global colocation operator and the former employer of multiple Core Scientific executives (COO Matt Brown, Head of Ops Rob Hepler, board member Steve Smith). It competes for hyperscaler and AI workloads with a much broader global footprint.
- Digital Realty: Digital Realty is a global hyperscale and enterprise colocation incumbent with extensive U.S. data center capacity. It competes for the same AI/HPC tenants that Core Scientific is targeting with its high-density sites.
- Vantage Data Centers: Vantage is a privately held hyperscale data center operator with significant North American capacity in markets overlapping Core Scientific's. It targets the same AI/cloud tenant base with purpose-built, high-density campuses.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights6 records
Customer concentration
Core Scientific social profiles
Digital presenceCore Scientific compliance and trust
Trust signalCompliance6 records
Core Scientific financial estimates
Financial estimateRevenue estimate
Valuation estimate
Core Scientific leadership team
Management profileNumber of profiles
Profiles19 records
Core Scientific subsidiaries and ownership
Company hierarchySubsidiaries3 records
Core Scientific funding detail
Funding detailFunding overview
Funding rounds14 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Core Scientific M&A and investment
M&A and investmentM&A3 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Core Scientific
What does Core Scientific do?
Core Scientific operates high-density data center colocation services purpose-built for AI and HPC workloads, delivering 1,300+ MW of contracted power across twelve owned U.S. facilities in Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma, and Texas. The company also operates an industrial-scale bitcoin mining service managed by its proprietary Midas fleet management software, and a Plexus cross-cloud processing service. The business is in active transition from bitcoin mining toward AI/HPC colocation, evidenced by colocation revenue rising from $8.6M to $77.5M year-over-year in Q1 FY2026.
Is Core Scientific a public or private company?
Core Scientific is a public company. It is classified as public and is currently operating.
When was Core Scientific founded?
Core Scientific was founded in 2017. It employs 251 to 500 people.
Where is Core Scientific based?
Core Scientific is headquartered in Dover, United States, in the North America region.
Who are Core Scientific's main competitors?
Direct peers on record are Applied Digital, Hut 8, IREN Limited and TeraWulf. Emerging players are CoreWeave, Riot Platforms and Cipher Mining. Broad incumbents are Equinix, Digital Realty and Vantage Data Centers.
Does Core Scientific have an API?
No public API is recorded for Core Scientific.
What industry is Core Scientific in?
Core Scientific's product category is AI Infrastructure / Data Center Colocation. Its primary akta.pro industry code is HDABACAA, Retail Colocation (Multi-Tenant Data Centers), with a secondary code of HDABACAB, Wholesale Colocation (Powered Shells / Suites). Its NAICS code is 518210 and its SIC code is 3571.