On July 1, Core Scientific fell 5.67% in regular trading, trading at $23.61/share, with turnover of $132 million. The decline was driven by a confluence of negative factors including deteriorating mining economics and sector-wide selling pressure.
On the news front, Bitcoin network mining difficulty has dropped over 20% from its historical high, marking the largest decline in recent years, forcing the company to accelerate its pivot toward AI and high-performance computing. Meanwhile, market concerns over a potential AI bubble burst triggering synchronized sell-offs in both Bitcoin and AI-related assets have continued to weigh on valuation. On the fundamental side, the company reported Q1 adjusted EPS of -$0.10, missing the analyst consensus estimate of -$0.07 by approximately 43%. Sector peer IREN Ltd declined 3.55% on the same day, reflecting broader industry weakness and reinforcing downward pressure across the mining-to-AI transition space.
(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.)
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