Core Scientific, Inc.

Core Scientific, Inc. designs, builds, and operates large-scale, purpose-built data centers that support high-density colocation services and digital asset mining for its own operations and, to a lesser extent, for third-party customers. Its data centers are optimized for power-intensive, mission-critical computing workloads, with a focus on artificial intelligence (AI) and other high-performance computing (HPC) applications. As of December 31, 2025, the company owned or leased ten data centers across seven U.S. states, representing approximately 1.4 gigawatts (GW) of gross utility power capacity, or approximately 920 megawatts (MW) of total leasable customer power capacity. A portion of these facilities were operational as of December 31, 2025, with the rest under construction or in various stages of development. Since its inception in 2017, Core Scientific has focused on building and operating high-power, purpose-built data centers, initially for digital asset mining and hosting third-party digital asset mining customers. The company historically targeted sites with abundant, reliable, and cost-effective power, strong network connectivity, available land or existing buildings suitable for redevelopment, attractive economic incentives, and access to utilities. In developing its facilities, the company typically designed powered shells and sufficient fiber connectivity to high-performance data center standards, enabling flexibility to support increasing power densities and evolving compute requirements. In 2024, the company announced its strategy to focus its data center infrastructure and expertise on the high-density colocation compute business. In February 2024, it entered into a long-term contract with CoreWeave, Inc. to deliver 16 MW of infrastructure at its Austin, Texas facility. In June 2024, Core Scientific announced another contract with CoreWeave for 200 MW of leased customer power capacity. Through the exercise of several contractual options during 2024 and into early 2025, total leased customer power capacity under the relationship with CoreWeave increased to approximately 590 MW of leased power capacity.