Movement Alert｜Core Scientific Falls 5.44% in Regular Trading, Mining-to-AI Transition Under Pressure Amid Sector Weakness

Market Focus07-02

On July 2, Core Scientific fell 5.44% in regular trading, trading at $22.45/share, with turnover of $81.88 million.

On the news front, Bitcoin network mining difficulty has dropped over 20% from its historical high, marking the largest decline in recent years and forcing the company to accelerate its pivot toward AI and high-performance computing. Meanwhile, market concerns over a potential AI bubble burst triggering synchronized selling of both Bitcoin and AI-related assets continue to weigh on valuations.

On the fundamental side, the company reported Q1 adjusted EPS of -$0.10, missing the analyst consensus estimate of -$0.07 by approximately 43%. Revenue of $115.24 million beat the $111.25 million estimate. Within the Application Software sector, peer IREN Ltd fell 6.44% on the same day, reflecting broad industry-wide weakness and creating additional downward linkage pressure on the stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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