Core Scientific is transitioning from Bitcoin mining to becoming a high-density AI colocation provider, reporting $77.5 million in colocation revenue for Q1 2026 with a 57% gross profit margin. This shift is supported by a multi-gigawatt power pipeline and a partnership with CoreWeave, validating its AI infrastructure focus with over $10 billion in contracted revenue and 590MW leased. Despite risks like high leverage and customer concentration, Core Scientific offers a unique investment opportunity in scarce AI power infrastructure amid industry-wide supply shortages.
Applied Digital, Cipher Mining, and Core Scientific stocks fell 3-6% due to rising long-term Treasury yields, which increase the cost of financing for capital-intensive AI data center buildouts. This selloff reflects concerns over higher borrowing co...
IREN Limited's stock fell sharply after reporting a $684 million loss, mainly due to non-cash write-downs from its Bitcoin mining hardware. Despite this, Bernstein analyst Gautam Chhugani set a high price target of $100, implying about 182% upside, b...
