Core Scientific Boosts Bitcoin Holdings to 848 BTC, Exits Block Chip Contract at $41.9M Loss
CORZ sits 47% above its 52-week low of $12.595 on elevated volume (2.6× avg).
Summary
Core Scientific grew its Bitcoin treasury by 301 BTC in Q2, reaching 848 BTC, while simultaneously terminating a chip purchase agreement with Block at a $41.9 million loss. The move underscores the company's aggressive pivot toward AI/HPC infrastructure, following the recent AMD partnership and $3.3 billion notes offering. The contract exit removes a legacy obligation, freeing capital for high-growth colocation deals. Revenue more than doubled to $164.2 million, with gross profit of $70 million, confirming the strategic shift is gaining traction. Watch for further AI/HPC customer announcements and the Polaris DS acquisition integration.
At the time of this announcement, CORZ was trading at $18.48 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $5.8B. The 52-week trading range was $12.60 to $30.46. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Binance News.