CORZ Stock Forecast & Price Target

Core Scientific is well positioned because it has rapidly expanded its approved power base by about 1.2GW this year, reaching roughly 2.6GW of approved capacity and about 1.9GW of leasable power, which creates a sizable runway for additional AI/HPC colocation contracts. Its anchor CoreWeave agreement is unusually large and visible, with about 243MW already delivered, the full 590MW under contract expected online early next year, and more than $10B of revenue potential over 12 years at an 80% to 85% gross margin target. The company also has over $1B of liquidity, has raised about $4.3B this year, and is shifting its legacy bitcoin mining fleet into colocation, improving mix, de-risking the revenue profile, and supporting durable EBITDA growth.

Core Scientific is viewed negatively because its upside depends on timely power infrastructure and approvals for the CRWV/HPC rollout, and any delays would push out full-run-rate revenues while limiting diversification beyond a single CoreWeave-linked contract. Q1 showed mixed execution: revenue rose to $115.2M, but gross profit fell short at $30.1M versus $58.5M expected and adjusted EBITDA was just $10.9M versus $28.1M modeled, reflecting margin pressure from self-mining and colocation costs. The outlook is further weakened by a 57% self-mining gross margin, expected miner reductions by year-end FY'26, and risks of financing shortfalls, asset write-downs, or dilutive equity raises.