Core Scientific, Inc. (CORZQ) Research

Core Scientific, Inc. manages facilities across North America, specializing in digital asset mining and offering co-location hosting services. The company delivers a suite of blockchain infrastructure, software solutions, and various supporting services. It engages in proprietary mining of digital currencies and concurrently provides hosting for other major mining operations. Its business operations are structured into two main divisions: Equipment Sales and Hosting. The firm utilizes its owned computer hardware to process and validate transactions on various blockchain networks, thereby earning digital currency rewards, a practice known as mining. Additionally, it operates data centers to offer co-location and hosting capabilities for distributed ledger technology, which is also referred to as blockchain. Core Scientific further develops proprietary blockchain-based platforms and applications, encompassing areas like infrastructure management, security protocols, mining optimization, and record-keeping tools. Headquartered in Austin, Texas, Core Scientific, Inc. formally initiated a voluntary petition for reorganization under Chapter 11 with the U.S. Bankruptcy Court for the Southern District of Texas on December 21, 2022.

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