CORZ

Growth Opportunities

Catalyst: Delivery of the First Tranche of 8 MW Billable Capacity at Denton

Certainty: 90% | Timing: End of May 2025
Impact: This tranche will mark the initial realization of Core Scientific’s strategic shift toward high‑density colocation and diversified revenue streams, supporting near‑term revenue stabilization.
Reasoning: In the Q1 2025 Earnings Call Transcript (Document 4, published 2025-05-07, timestamp approx. 12:30 PM ET), management stated, "We expect to deliver the first tranche of 8 megawatts of billable capacity this month." The Fiscal First Quarter 2025 Financial Results (Document 5, published 2025-05-07) also confirms on‐track progress toward this milestone.

Catalyst: Delivery of 250 MW of Billable Capacity to CoreWeave by End 2025

Certainty: 90% | Timing: By the end of 2025
Impact: Achieving this target will significantly expand Core Scientific’s hosted capacity and further its partnership with CoreWeave, strengthening recurring revenue prospects.
Reasoning: Document 5 (Fiscal Q1 2025 Financial Results, published 2025-05-07) states that the company is “on track to deliver 250 MW of billable capacity to CoreWeave by the end of 2025,” making this a key upcoming catalyst for growth.

Catalyst: Addition of Approximately 300 MW Billable Capacity Across Existing Sites by End 2027

Certainty: 90% | Timing: By the end of 2027
Impact: This expansion will enhance the company’s infrastructure scale, enabling further market penetration in the HPC and colocation sectors while driving long‑term revenue growth.
Reasoning: As highlighted during the Q1 2025 Earnings Call (Document 4, published 2025-05-07), management discussed plans “to add approximately 300 megawatts of billable capacity across existing sites by the end of 2027,” confirming this forward‑looking growth opportunity.

Catalyst: Launch of New High‑Performance Computing Facility in Auburn, Alabama

Certainty: 90% | Timing: Near-term, with an initial capacity roll‑out followed by further expansion
Impact: The Auburn facility, slated to launch at 16 MW with the potential for further capacity increases, will broaden Core Scientific’s geographic footprint in the HPC market and support new AI and enterprise customer demand.
Reasoning: Document 13 (Expansion Announcement of New High‑Performance Computing Facility in Auburn, Alabama, published 2025-02-19) details the new facility’s capacity and investment plans, marking it as an upcoming actionable catalyst.

Strategic Transactions / Capital Projects

Catalyst: Commencement of $1.2 Billion Expansion at the Denton, TX Site

Certainty: 90% | Timing: As per project timelines announced in early 2025
Impact: With an added 70 MW of contracted capacity at the Denton site, this expansion reinforces Core Scientific’s leadership in delivering HPC hosting infrastructure, and it is expected to drive significant revenue growth over the contract term.
Reasoning: Document 11 (Announcement of $1.2 Billion Expansion at Denton, TX Site, published 2025-02-26) confirms the expansion details, including additional contracted power and associated revenue projections, making it a key pending catalyst.

Shareholder / Governance Actions

Catalyst: Ongoing Search for a New Independent Director

Certainty: 90% | Timing: In progress following the departure of Todd Becker (effective May 13, 2025)
Impact: Filling this board vacancy is essential for maintaining effective governance and could positively influence market confidence and future strategic decisions.
Reasoning: Document 2 (Announcement of Departure of Board Member, published 2025-05-13) notes that following Todd Becker’s immediate departure, “the company is searching for a new independent director to fill the vacancy.” This ongoing search represents an actionable and pending governance catalyst.