Tired of doing what its been doing - and getting what its been getting, Core Scientific decides to go for getting more.
What Core Scientific, also known by its market alias CORZ, had been doing was Bitcoin Mining and Hosting, and then they had a Gestalt moment…ie the lightbulb came on and someone thought: AHAAAAAAA. Or something like that.
Website: https://corescientific.com/
Data Points:
Current Price: $8.31
52 WK Range: 2.88 - 18.63
YTD Momentum: - 40.85%. (Squarely In the BTS Position)
Market Cap: 2.5B (Give or Take)
Latest ER:
ER Notes: Total Miss Mess. But Ignore that for now - simply notate and hold firmly in your mind that Total Revenue was a little over $94M. Which led to this quote from the Corz CEO:
But…as we noted earlier that was then - and this is (might be) now, Sorta. So what’s behind the potential new improved Core Scientific? So what, exactly…has CORZ done did? They have went to HPC. That’s right - and HPC is the HyperGrowth, Warp Speed button for the company. AHHHHHHHH…you say. That’s fantastic…thats great…er…what, exactly is HPC?
HPC stands for High-Performance Compute (Hosting Services). At this point in time someone might broach a potentially serious question: Big deal - aren’t a lot of competitors already doing HPC and/or racing to get into it. the answer is pretty straight forward: Yes, yes, yes and maybe maybe maybe - and actually I have no idea and no intention to go have a look see. Why…you might ask? This too is simple: It’s because none of the others (that I am aware of) have a multi-billion contract from the highly respected, but fizzled IPO company: CoreWeave. Which is a round-a-bout way of saying that CORZ does. It has a $10B Plus contract for HPC hosting with CoreWeave that will be spread over 12 years or so. Which gives Core Scientific a pretty strong advantage over all the other folks. It’s like all the HPC wanna bees are at the starting line about to run a 100 yd dash and CORZ gets to start at the 40. Or something like that or very similar to that.
And thats why CORZ has earned a position on the Scout Team in the Growth Port. But there’s more, including the main caveat which is potentially fantastic for an off/on sort of Trading Block position. (Long Live Trading Blocks). See here’s the thing - given that the whole HPC thingy is just getting off the ground CORZ is liable to be volatile like this: UP…Down…UP..UP…
Down…Down. See how that works?
I added Core S to the port a couple of weeks ago and currently have a quick 13% gain. Thinking about taking that gain and then adding it again if it goes down. Over and Over if given the opportunity.
Now you shouldn’t take my word for it. Nor the Big Kahuna Tech Guru’s word, which is where this all came from. Do your own Due Diligence/make your very own decisions while remembering that nothing you ever read from the Abandoned Arctic Outpost, which is sponsored by the way by the MFool and coordinated by the Brothers of the Woeful Countenance, is worth more than you have paid for it. More importantly, if you lose all your money please do not come to my home looking to get it back. I have instructed everyone never to open the gates for anyone who has empty pockets or looks mad.
Special Bonus Advice: Never make eye contact with lunatics.
All the Best,
big Dumb Hick Investing