🚀 Bitcoin Miner Core Scientific Stock Skyrockets: Here’s Why You Should Care

Wall Street’s latest crypto crush just got a turbo boost. Core Scientific—one of Bitcoin’s most aggressive mining plays—is surging like it’s 2021 all over again. But what’s fueling the rally?

The Hash Rate Hustle

Rumors swirl about a monster hardware upgrade—think next-gen ASICs chewing through blocks like a Vegas high roller at a buffet. Meanwhile, Bitcoin’s price flirtation with $70k has miners printing cash again (until the next halving, anyway).

Short Sellers Get Rekt

Short interest cratered 23% this week as the stock ripped past resistance levels. Cue the classic crypto-market irony: the same analysts who called mining ‘uninvestable’ six months ago are now scrambling for exposure.

The Bottom Line

Whether this is a sustainable turnaround or just another speculative bubble depends on two things: Bitcoin’s volatility (obviously) and whether Core can actually deliver on its ‘AI-powered mining’ hype. But hey—since when has rationality stopped a good crypto pump?

CoreWeave is a cloud and AI infrastructure company that supports computing for artificial intelligence and other high-powered tech needs. The company went public in March 2025 and raised $1.5 billion in its IPO. It reported $1.9 billion in revenue for 2024 and has signed deals with major tech firms like Meta, Microsoft, IBM, and OpenAI.

Core Scientific went public in January 2022 through a $4.3 billion SPAC deal. Later that year, in December 2022, it filed for Chapter 11 bankruptcy after the price of bitcoin dropped sharply. The company exited bankruptcy in 2023 and re-listed its stock on Nasdaq.

In 2024, Core Scientific earned $502.4 million in revenue but reported a net loss of $265.5 million. That loss was mainly due to a non-cash warrant adjustment. In early 2025, it posted a first-quarter profit of $580 million.

The two companies already have a working relationship. They’ve signed several multi-year deals. One of those agreements allows Core Scientific to supply CoreWeave with around 200 megawatts of power to help run its computing services.

Shares of other crypto mining firms, such as Hut 8, IREN, and Cipher Mining, also rose following the news, though not as much as Core Scientific’s stock.

Also Read: U.S. Crypto Bill Will Pass in September: Senator Tim Scott