Core Scientific Is Firing on All Cylinders as Analysts Approve Its Expansion Plans

Core Scientific (CORZ) started off as a Bitcoin (BTCUSD) mining company, trying to carve out a space for itself in a world where alternative assets were gaining attention. Little did the company know that the infrastructure it had built for BTC mining would one day come in handy for something entirely different: artificial intelligence (AI) and high-performance computing (HPC). 

Bitcoin mining requires two critical components — cheap power capacity and high-density rack infrastructure. Interestingly, this is what HPC in the AI era also needs. So, when hyperscalers started investing heavily in AI infrastructure, companies like Core Scientific decided to pivot to a different business model in data-center capacity for AI and HPC workloads.