CandleFocus Bitcoin mining firm Core Scientific soars to record 248% YTD stock growth
2024-09-24
Author: Content Editor
Core Scientific, a public Bitcoin miner, has experienced a significant increase in year-to-date returns, with a 248% gain, surpassing other publicly traded miners. The company reported impressive self-mined BTC figures and signed a 12-year contract with CoreWeave, expecting over $3.5 billion in revenue. Following Chapter 11 bankruptcy in 2022, Core Scientific re-emerged in 2024 after receiving a $54 million investment from Bitmain. The CEO of CryptoQuant confirmed the stock revenue gain and noted the shift in Bitcoin hashrate dominance to U.S. mining companies. Core Scientific aims to maximize revenue and position itself as a leader in digital infrastructure and AI computing. The company has undergone restructuring and secured financing. It has also entered partnerships for ASIC mining chips and AI expansion.
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