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AUSTIN, Texas - Core Scientific, Inc. (NASDAQ: CORZ), a company specializing in digital infrastructure and digital asset mining, has announced the addition of Elizabeth Crain to its Board of Directors, where she will also serve as the Chair of the Audit Committee. The appointment is effective immediately. The announcement comes as Core Scientific’s stock shows strong momentum, with InvestingPro data revealing a 184% return over the past year and a recent weekly gain of nearly 13%.
Elizabeth Crain is recognized for her extensive background in investment banking, private equity, and executive leadership. Co-founder and former COO of Moelis & Company, Crain has over three decades of experience in the financial sector. She has played a pivotal role in the expansion of Moelis & Company into a globally acknowledged financial advisory firm. Her previous roles include Managing Director and COO of UBS Investment Banking Americas, and she is currently a Partner at the Consello Group. In 2022, Crain was listed among Barron’s 100 Most Influential Women in U.S. Finance.
In addition to her new position at Core Scientific, Crain holds a seat on the Board of Nokia Corporation (NYSE: NOK). She earned her MBA from The Wharton School at the University of Pennsylvania and a B.S. in Economics from Arizona State University.
Adam Sullivan, CEO of Core Scientific, expressed enthusiasm about Crain’s appointment, citing her financial leadership and strategic growth expertise as valuable assets for the company’s future endeavors.
Simultaneously, Jordan Levy was elected as Chair of the Board, following Jarrod Patten’s decision not to stand for reelection at the company’s 2025 Annual Meeting of Stockholders. Sullivan praised Levy’s leadership qualities and vision for the company’s next growth phase.
Core Scientific operates dedicated facilities for digital asset mining and provides high-density colocation services, software solutions, and services to third-party customers. The company is in the process of adapting some of its facilities across multiple states to support artificial intelligence workloads. According to InvestingPro analysis, while the company maintains strong liquidity with current assets exceeding short-term obligations by over 4 times, it faces challenges with gross profit margins of about 16%. Get access to 10+ additional exclusive ProTips and comprehensive financial metrics with InvestingPro’s detailed research report.
The press release includes forward-looking statements regarding the company’s future revenue and growth plans. These statements are based on management’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially. Notably, while analysts tracked by InvestingPro anticipate a revenue decline this year, they project the company will return to profitability, with earnings per share forecast at $0.51 for 2025. The stock currently trades above InvestingPro’s calculated Fair Value, suggesting investors should carefully consider their entry points.
This news is based on a press release statement from Core Scientific, Inc.
In other recent news, Core Scientific reported its first-quarter 2025 earnings, revealing a revenue of $79.5 million, which marks a 16% sequential decrease. The company is undergoing a strategic shift from Bitcoin mining to high-density colocation infrastructure, focusing on AI workloads. Despite the revenue decline, Core Scientific maintains a liquidity position of $780 million. In a separate development, Cantor Fitzgerald analyst Brett Knoblauch raised the price target for Core Scientific shares to $18, citing the company’s strong growth prospects and secure contracts with CoreWeave. Knoblauch maintains an Overweight rating on the stock, highlighting the potential for significant returns. Additionally, Core Scientific announced the resignation of board member Todd Becker, who played a crucial role in the company’s financial restructuring and capital raises. The company is actively searching for a new independent director to fill Becker’s position. These developments indicate Core Scientific’s ongoing efforts to adapt to changing market demands and strengthen its strategic position.
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