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Core Scientific (CORZ) investor relations material
Core Scientific Investor Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Merger Outcome and Strategic Direction
Shareholders voted against the proposed merger with CoreWeave, resulting in formal termination of the deal.
The company will continue as a standalone entity, focusing on executing its growth strategy and leveraging its strong operational team.
The board negotiated the best possible terms, but market dynamics and CoreWeave's stock performance influenced the vote.
Operational Execution and Project Pipeline
On track to deliver 250 MW of billable capacity by year-end and 590 MW to CoreWeave by early 2027.
Current organic pipeline includes 2.3 GW gross capacity (1.5 GW billable), with an additional 1 GW from targeted load studies, totaling 3.3 GW gross.
Construction milestones achieved at Denton and Marble sites, with new Gen 2 AI factory design introduced at Muskogee.
Over 120 MW energized across Denton and Marble sites, with ongoing construction at Denton, Muskogee, Marble, and Dalton through 2025.
Customer and Contract Diversification
CoreWeave remains the sole customer, with contracts representing over $10 billion in revenue potential over 12 years.
Contracts are take-or-pay, fixed price, and cannot be unilaterally terminated by the customer.
Plans to sign at least one new customer and new power contracts at both existing and new sites before the next earnings call.
All MW in the portfolio will be converted to high-density colocation over the next three years, winding down the mining business.
Next Core Scientific earnings date
Next Core Scientific earnings date
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