List of Flash News about Core Scientific (CORZ)
Time | Details |
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2025-06-30 23:40 |
Canaan (CAN) Exits AI to Focus on Bitcoin (BTC) Mining as Core Scientific (CORZ) Soars on AI Pivot and Buyout Buzz
According to @StockMKTNewz, bitcoin mining machine manufacturer Canaan (CAN) is shutting down its artificial intelligence (AI) semiconductor business to refocus on its core crypto operations. The company stated the AI unit was not aligned with its long-term strategy, generating minimal revenue while accounting for 15% of operating expenses. This decision comes as Canaan's stock (CAN) has fallen 71% this year. In stark contrast, bitcoin miner Core Scientific (CORZ) is experiencing a stock surge following reports of advanced buyout talks with AI cloud firm CoreWeave. Analysts at Cantor Fitzgerald project CORZ could reach over $30 per share, citing a 12-year, $3.5 billion infrastructure lease with CoreWeave and the replacement value of its data centers. This highlights a strategic pivot discussed by Rittenhouse Research, where crypto companies shift from volatile Bitcoin mining to providing AI infrastructure for more stable, long-term revenue streams. Core Scientific's move is seen as a successful middle path, leveraging its mining footprint to capitalize on the AI boom. |
2025-06-30 18:57 |
Core Scientific (CORZ) Stock Price Could Double to $30 on AI Pivot; Lummis AI Bill Pushes for Transparency
According to @StockMKTNewz, investment firm Cantor Fitzgerald has issued a research note suggesting that Bitcoin (BTC) miner Core Scientific (CORZ) could be valued at over $30 per share in a potential acquisition by cloud compute firm CoreWeave. This valuation is based on a significant 12-year, $3.5 billion infrastructure lease for CoreWeave to use 200 megawatts of AI capacity, which Cantor values at $24 per share, plus an additional $11.70 per share for the replacement value of CORZ's power infrastructure. This move highlights a broader trend analyzed by Rittenhouse Research, where crypto mining companies are pivoting their infrastructure to the high-demand AI compute market for more stable, long-term cash flows compared to the volatile BTC mining industry. Concurrently, Senator Cynthia Lummis has introduced the RISE Act of 2025, a bill that would require AI developers to disclose technical details and limitations to avoid civil liability, promoting transparency in the same AI sector that crypto miners are now entering. However, the report also notes that such pivots are not always successful, citing the stock declines of Bit Digital and Canaan after their strategic shifts away from BTC mining. |
2025-06-29 16:45 |
Bitdeer (BTDR) Secures $330M for ASIC Expansion as CoreWeave Renews Core Scientific (CORZ) Acquisition Talks
According to @MilkRoadDaily, Bitcoin miner Bitdeer (BTDR) has successfully raised $330 million from a private placement of convertible senior notes, with the funds earmarked for datacenter expansion and the development of new, more efficient ASIC chips. The source notes that the notes feature a conversion price of $15.87 per share, representing a 44% premium over BTDR's current trading price of approximately $11. In separate industry news cited from the Wall Street Journal, AI cloud company CoreWeave is reportedly back in talks to acquire Bitcoin miner Core Scientific (CORZ). This development has caused CORZ shares to surge by 25% to over $15, and has also positively impacted other mining stocks such as Hut 8 (HUT), IREN (IREN), and Cipher Mining (CIFR). |