Cantor Fitzgerald analyst Brett Knoblauch initiated coverage on Core Scientific, Inc. (NASDAQ:CORZ), with a price forecast of $20.
According to the analyst, Bitcoin miners currently have one of the most coveted assets in the world – access to power.
In June 2024, Core Scientific announced a deal with CoreWeave (private), following which shares went up meaningfully.
With CoreWeave, Core Scientific was the first Bitcoin miner to sign a meaningful AI/HPC deal.
In what has now been extended, CoreWeave will lease 270 MW from Core Scientific for 12 years, and pay the company a total of $4.725 billion ...