| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 5 | — | 17.8x | Bottom tier | |
Growth | 47 | 26.4% | 7.1% | Around median | |
Quality | 31 | — | 4.5% | Bottom tier | |
Safety | 13 | — | 2.6x | Bottom tier | |
Capital Return | 7 | — | 2.12% | Bottom tier | |
Momentum | 47 | 39.6% | 2.9% | Around median | |
Sentiment | 74 | 6 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Core Scientific is transforming its business model from Bitcoin mining to developing and operating high-density digital infrastructure for hosting artificial intelligence and high-performance computing workloads. The company generates hosting revenue by leasing power and computing capacity under long-term contracts, led by its 12-year CoreWeave contracts, while using its mining operations to help offset contracted energy costs during the transition period. As of May 6, 2026, the company was billing for 243 megawatts of hosting capacity, equivalent to more than $350 million in annual GAAP hosting revenue, compared with a plan to reduce mining to one or two sites by the end of fiscal year 2026.
In Q2 of fiscal year 2026, revenue reached $164.2 million and gross profit was $70.0 million, equivalent to a gross margin of approximately 42.6%, but the net loss reached $1.2 billion and loss per share was $3.32. Compared with Q1 of fiscal year 2026, revenue increased by approximately 42.5% from $115.2 million, gross profit increased by approximately 132.6% from $30.1 million, and gross margin improved from approximately 26.1%, while the net loss widened from $347.2 million.
Revenue for the twelve-month period ending in fiscal year 2026 was approximately $440.3 million, with gross profit of $124.8 million and a net loss of $1.4 billion. The operating mix reflects a shift in the center of gravity toward hosting: the company had delivered 243 billable megawatts to CoreWeave as of May 6, 2026, targeted exceeding 450 megawatts by the end of summer 2026, and planned to deliver the full 590 megawatts of contracted capacity in early 2027, while reducing the number of operating Bitcoin mining machines during the second half of fiscal year 2026.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average price target of $35.4 and a target range of $29 to $40; the average is approximately 16.2% above the 52-week range high of $30.46, while the lowest target is approximately 4.8% below that high. No price-to-earnings ratio is available because of the twelve-month net loss of $1.4 billion, so the valuation assumes success in converting financed capacity into hosting contracts and revenue, while the wide target range reflects the risks related to losses, capital expenditure, and execution.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Core Scientific was billing for 243 megawatts of hosting capacity as of May 6, 2026, equivalent to more than $350 million in annual GAAP revenue. In contrast, management said the Bitcoin mining business would continue to decline during fiscal year 2026, leaving only one or two sites operating by year-end. The AMD partnership announced on August 3, 2026 reinforced this transition through artificial intelligence infrastructure with capacity of up to 2.5 gigawatts.
The CoreWeave contract covers 590 megawatts of contracted capacity across five sites, and the company had delivered 243 billable megawatts as of May 6, 2026. Management targeted exceeding 450 megawatts by the end of summer 2026 and delivering the full capacity in early 2027. It also raised the target cash gross margin range for the contract to 80%–85%, but the reliance of the five leased sites on a single tenant creates clear concentration.
EDGAR data showed a net loss of $1.2 billion and a loss per share of $3.32 in Q2 of fiscal year 2026. During the same period, the company generated revenue of $164.2 million and gross profit of $70.0 million, equivalent to a gross margin of approximately 42.6%. The data does not specify a detailed reason for the loss, so it cannot be attributed to a particular accounting or operating item.
On May 6, 2026, the company closed a $3.3 billion issuance of notes for CoreWeave projects at an interest rate of 7.75%, with net proceeds of approximately $2.9 billion. It plans capital expenditure of approximately $2 billion during fiscal year 2026, including approximately $700 million for the acquisition of the Hunt County site and the Polaris transaction in Muskogee. The company is targeting the expansion of both Pecos and Muskogee to approximately 1.5 gigawatts, using a mix of grid power and behind-the-meter power solutions.
Management said on May 6, 2026 that labor represented one of the most significant constraints in the data-center construction market, despite contractors being mobilized at most development sites. The company is also building the first data halls before signing leases at some sites, exposing part of its $2 billion in fiscal year 2026 spending to the risk of contracting delays. Behind-the-meter power solutions at Pecos and Muskogee require air-quality permits, while the first 82.5-megawatt Muskogee building is targeted for initial delivery in the second half of 2027.
The analyst consensus is “Buy,” with an average price target of $35.4, a high target of $40, and a low target of $29. The average target exceeds the 52-week range high of $30.46 by approximately 16.2%, while the lowest target is approximately 4.8% below it. There is no comparable price-to-earnings ratio because the twelve-month period in fiscal year 2026 recorded a net loss of $1.4 billion and a loss per share of approximately $4.40.
