Core Scientific reports increased bitcoin mining in March

AUSTIN - Core Scientific, Inc. (NASDAQ: CORZ), a company specializing in digital infrastructure and bitcoin mining with a market capitalization of $2.11 billion, has announced its unaudited production and operations updates for March 2025. In a recent surge in activity, the company reported earning 247 self-mined bitcoins, marking an increase from the 215 bitcoins mined in February 2025. Despite the operational improvements, InvestingPro analysis suggests the stock is currently trading above its Fair Value, though it has delivered an impressive 108% return over the past year.

The company's data centers, which operate approximately 163,000 bitcoin miners, achieved a total energized hash rate of 19.1 EH/s. Core Scientific's owned fleet of 156,000 bitcoin miners, which represents about 96% of the total miners in its facilities, contributed to an 18.1 EH/s hash rate. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 6.72, indicating robust operational capacity. Get access to 8 more exclusive InvestingPro Tips and comprehensive analysis through the Pro Research Report.

In addition to its self-mining operations, Core Scientific also provides hosting services for approximately 7,000 customer-owned bitcoin miners, accounting for around 4% of the total miners. These hosted miners earned an estimated 17 bitcoins in March.

Core Scientific's commitment to supporting local electrical grids was evident as the company reduced power consumption on multiple occasions, delivering 35,295 megawatt hours back to the grids.

The company's operations span across nine data centers located in various states, including Alabama, Georgia, Kentucky, North Carolina, North Dakota, Texas, and a facility in development in Oklahoma. These centers are being modified to support high-performance computing (HPC) workloads, particularly for artificial intelligence applications.

The information provided in this article is based on a press release statement from Core Scientific, Inc. While analysts maintain a bullish outlook with a consensus recommendation of 1.38 (Strong Buy), it should be noted that forward-looking statements within the press release are not guarantees of future performance and are subject to various risks and uncertainties. Core Scientific's actual results may differ materially from those projected in these forward-looking statements. For detailed financial analysis and expert insights, explore the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Core Scientific Inc. has secured a significant $10 billion in long-term contracted revenue, primarily with CoreWeave, as the company shifts its focus from Bitcoin mining to high-performance computing (HPC) infrastructure. Analysts at Clear Street have initiated coverage with a Buy rating and a $20 price target, emphasizing the company's strategic realignment and its potential for stable growth. Compass Point also reaffirmed a Buy rating with the same price target, highlighting Core Scientific's extended contract with CoreWeave, which includes additional terms for 70 megawatts at the Denton facility, expected to generate substantial revenue over a 12-year period.

H.C. Wainwright maintained a $17 price target on Core Scientific, noting the positive impact of CoreWeave's recent contract with OpenAI and its anticipated IPO. Meanwhile, Core Scientific announced the appointment of KPMG LLP as its new independent auditor, replacing Marcum LLP, as part of its ongoing efforts to strengthen financial reporting. The company acknowledged material weaknesses in its internal controls but reported no disagreements with Marcum on accounting principles.

Additionally, Core Scientific experienced a decline in its Bitcoin mining rate in February, dropping to 7.7 self-mined Bitcoin per day from 8.3 in January. This decrease was attributed to a slightly lower energized hash rate amid a growing network hash rate. These recent developments reflect Core Scientific's evolving business strategy and ongoing financial adjustments.

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