Core Scientific, Inc./tx
CORZ, CORZR, CORZW, CORZZ · Finance Services · 317.9M shares · +34%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$27M (gross $32M, SBC $59M)
Reference price $29.11 · est. market cap ~$9.3B — last insider sale, 2026-06-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D52Core Scientific — bitcoin miner pivoting to HPC/AI (CoreWeave), post-bankruptcy, loss-making.
Strengths
- Strong operating cash margin (96th pct) and cash (78th); large HPC/AI hosting contracts
Risks
- Net loss; large negative free cash flow; ~2.8q runway
- Crypto-price, customer-concentration and capital-intensity risk
Notable findings
- RestatementRecent 8-K item 4.02 8-K ↗
- Net lossNet loss (net margin -90.5%)
- Cash burnNegative free cash flow (-450.8M)
- Material weakness• We have identified a material weakness in our internal control over financial reporting, which has resulted in the ineffectiveness of our internal control over financial reporting and disclosure c
- Chronic dilutionShare count +34%/yr over 3y (dilution)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Insider buyingInsider buying — 1 open-market buy(s) by 1 insider(s) (~$101,700, last 6mo) Form 4 ↗
- Insider sellingInsider selling — 22 open-market sale(s) by 1 insider(s) (~$3M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
11.9%
Operating margin
-77.0%
Net margin
-90.5%
Return on equity
30.0%
Return on assets
-12.3%
Revenue growth (QoQ)
44.5%
Current ratio
1.1×
Free cash flow
-$451M
EBITDA
-$177M
Tangible book value
-$963M
Cash & investments
$311M
Cash runway
3q
Stock comp / revenue
30.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-22 | DUCHENE TODD M | Sell | 7.6K | $29.11 |
| 2026-06-22 | DUCHENE TODD M | Sell | 2.4K | $29.88 |
| 2026-06-15 | DUCHENE TODD M | Sell | 100 | $28.79 |
| 2026-06-15 | DUCHENE TODD M | Sell | 9.9K | $28.19 |
| 2026-06-08 | DUCHENE TODD M | Sell | 5.5K | $26.64 |
| 2026-06-08 | DUCHENE TODD M | Sell | 4.5K | $27.11 |
| 2026-06-01 | DUCHENE TODD M | Sell | 1.3K | $26.93 |
| 2026-06-01 | DUCHENE TODD M | Sell | 3.2K | $28.27 |
| 2026-06-01 | DUCHENE TODD M | Sell | 5.5K | $28.76 |
| 2026-05-26 | DUCHENE TODD M | Sell | 10K | $26.25 |
| 2026-05-26 | Smith Stephen M | Grant | 19K | — |
| 2026-05-20 | Nygaard James P Jr | Grant | 120K | — |
| 2026-05-20 | DUCHENE TODD M | Grant | 139K | — |
| 2026-05-18 | DUCHENE TODD M | Sell | 9.6K | $23.12 |
| 2026-05-18 | DUCHENE TODD M | Sell | 400 | $23.76 |
| 2026-05-11 | DUCHENE TODD M | Sell | 2.6K | $22.82 |
| 2026-05-11 | DUCHENE TODD M | Sell | 7.4K | $23.39 |
| 2026-05-04 | DUCHENE TODD M | Sell | 9.9K | $20.85 |
| 2026-05-04 | DUCHENE TODD M | Sell | 100 | $21.53 |
| 2026-04-27 | DUCHENE TODD M | Sell | 10K | $20.94 |
| 2026-04-20 | DUCHENE TODD M | Sell | 10K | $19.80 |
| 2026-04-16 | DUCHENE TODD M | Tax withheld | 17K | $19.08 |
| 2026-04-15 | Sullivan Adam Taylor | Tax withheld | 87K | $19.08 |
| 2026-04-13 | DUCHENE TODD M | Sell | 9.6K | $18.61 |
| 2026-04-13 | DUCHENE TODD M | Sell | 400 | $18.99 |
| 2026-04-06 | DUCHENE TODD M | Sell | 10K | $16.49 |
| 2026-04-01 | DUCHENE TODD M | Sell | 10K | $15.25 |
| 2026-03-31 | Sullivan Adam Taylor | Tax withheld | 315K | $14.96 |
| 2026-03-31 | DUCHENE TODD M | Grant | 217K | — |
| 2026-03-31 | DUCHENE TODD M | Tax withheld | 98K | $14.96 |
| 2026-03-31 | Sullivan Adam Taylor | Grant | 742K | — |
| 2026-03-26 | Nygaard James P Jr | Tax withheld | 99K | $16.42 |
| 2026-03-17 | Nygaard James P Jr | Tax withheld | 93K | $16.42 |
| 2026-03-09 | Weiss Eric Stanton | Buy | 7.0K | $14.53 |
| 2026-02-04 | Booth Jeffrey David | Grant | 19K | — |
| 2026-02-04 | CRAIN ELIZABETH | Grant | 19K | — |
| 2026-02-04 | Weiss Eric Stanton | Grant | 19K | — |
| 2026-02-04 | Rozov Yadin | Grant | 19K | — |
| 2026-02-04 | Levy Jordan | Grant | 19K | — |
| 2026-01-29 | Sullivan Adam Taylor | Tax withheld | 275K | $18.79 |
| 2026-01-23 | Sullivan Adam Taylor | Tax withheld | 274K | $18.79 |
| 2025-12-31 | Sullivan Adam Taylor | Grant | 159K | — |
| 2025-12-31 | Sullivan Adam Taylor | Tax withheld | 118K | $15.08 |
| 2025-12-31 | DUCHENE TODD M | Grant | 56K | — |
| 2025-12-31 | DUCHENE TODD M | Tax withheld | 140K | $15.08 |
| 2025-12-30 | Rozov Yadin | Gift | 40K | — |
| 2025-11-04 | Weiss Eric Stanton | Buy | 5.0K | $21.50 |
| 2025-09-30 | DUCHENE TODD M | Tax withheld | 8.2K | $17.94 |
| 2025-09-30 | Sullivan Adam Taylor | Tax withheld | 24K | $17.94 |
| 2025-08-15 | DUCHENE TODD M | Tax withheld | 12K | $14.13 |
| 2025-07-01 | Sullivan Adam Taylor | Tax withheld | 24K | $17.07 |
| 2025-07-01 | DUCHENE TODD M | Tax withheld | 8.2K | $17.07 |
| 2025-06-25 | DUCHENE TODD M | Sell | 7.8K | $12.39 |
| 2025-06-04 | DUCHENE TODD M | Sell | 50K | $12.31 |
| 2025-06-03 | DUCHENE TODD M | Sell | 60K | $11.33 |
| 2025-05-29 | CRAIN ELIZABETH | Grant | 47K | — |
| 2025-05-28 | Rozov Yadin | Buy | 110K | $10.87 |
| 2025-05-27 | DUCHENE TODD M | Sell | 50K | $11.23 |
| 2025-04-28 | DUCHENE TODD M | Grant | 195K | — |
| 2025-04-28 | Sullivan Adam Taylor | Grant | 666K | — |
| 2025-04-01 | Sullivan Adam Taylor | Sell | 23K | $7.52 |
| 2025-04-01 | DUCHENE TODD M | Sell | 7.9K | $7.52 |
| 2025-03-26 | Nygaard James P Jr | Grant | 820K | — |
| 2025-03-06 | Weiss Eric Stanton | Buy | 6.0K | $8.46 |
| 2025-03-06 | Levy Jordan | Buy | 62K | $8.01 |
| 2025-03-03 | Becker Todd A | Sell | 134K | $10.75 |
| 2025-01-27 | Levy Jordan | Grant | 20K | — |
| 2025-01-27 | Booth Jeffrey David | Grant | 20K | — |
| 2025-01-27 | Becker Todd A | Grant | 20K | — |
| 2025-01-27 | Weiss Eric Stanton | Grant | 20K | — |
| 2025-01-27 | Patten Jarrod M | Grant | 20K | — |
| 2025-01-27 | Rozov Yadin | Grant | 20K | — |
| 2025-01-24 | Sullivan Adam Taylor | Sell | 370K | $16.24 |
| 2025-01-24 | DUCHENE TODD M | Sell | 25K | $16.24 |
| 2025-01-22 | Sterling Denise Marie Brucia | Sell | 802 | $15.64 |
| 2025-01-03 | DUCHENE TODD M | Sell | 2.9K | $14.57 |
| 2025-01-02 | Sullivan Adam Taylor | Sell | 88K | $14.24 |
| 2025-01-02 | DUCHENE TODD M | Sell | 130K | $14.24 |
| 2024-12-31 | DUCHENE TODD M | Grant | 56K | — |
| 2024-12-31 | Sullivan Adam Taylor | Grant | 159K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-26 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-05-15 | Shareholder vote | filing ↗ |
| 2026-05-06 | ResultsReg FDExhibits | filing ↗ |
| 2026-05-06 | Material agreementReg FDExhibits | filing ↗ |
| 2026-05-06 | Material agreement1.02Debt obligationOtherExhibits | filing ↗ |
| 2026-05-05 | Exec/director changeExhibits | filing ↗ |
| 2026-04-27 | Reg FDExhibits | filing ↗ |
| 2026-04-21 | Reg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-26 | 2026-05-26 | 0001839341-26-000005 ↗ |
| 8-K | 2026-05-15 | 2026-05-12 | 0001839341-26-000002 ↗ |
| 8-K | 2026-05-06 | 2026-04-22 | 0001193125-26-208905 ↗ |
| 8-K | 2026-05-06 | 2026-05-05 | 0001628280-26-030918 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001628280-26-031246 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001628280-26-031396 ↗ |
| 8-K | 2026-05-05 | 2026-04-30 | 0001628280-26-030553 ↗ |
| 8-K | 2026-04-27 | 2026-04-27 | 0001628280-26-027645 ↗ |
| 8-K | 2026-04-21 | 2026-04-21 | 0001193125-26-165121 ↗ |
| 8-K | 2026-03-23 | 2026-03-18 | 0001628280-26-020327 ↗ |
| 10-K/A | 2026-03-18 | 2025-12-31 | 0001628280-26-019505 ↗ |
| 8-K | 2026-03-06 | 2026-03-04 | 0001628280-26-015622 ↗ |