Core Scientific Stock Up 45% This Past Year: Fund Lifts Stake Despite Volatility and $147 Million Q3 Loss

Core View - Helix Partners Management increased its stake in Core Scientific by purchasing 350,000 additional shares, valued at approximately $6.10 million, reflecting confidence in the company's future prospects [2][8]. Company Overview - Core Scientific is a leading provider of digital asset mining and blockchain infrastructure services in North America, utilizing advanced data center facilities and proprietary software to enhance mining efficiency [6][9]. - The company operates a dual business model, generating revenue from both direct digital asset mining and recurring fees from hosting services for institutional clients [9]. Financial Performance - For the trailing twelve months (TTM), Core Scientific reported revenue of $334.18 million, with a net income loss of $768.31 million [4]. - In the third quarter, the company generated $81.1 million in revenue, with high-density colocation revenue increasing to $15.0 million from $10.3 million year-over-year, despite a decline in total revenue [11]. - As of February 12, 2026, Core Scientific's stock price was $17.48, reflecting a 44.58% increase over the past year, outperforming the S&P 500 by 31.68 percentage points [4][8]. Investment Implications - Core Scientific now constitutes 27.41% of Helix Partners Management's assets under management, indicating a strong conviction in the company's potential [8][10]. - The company is pivoting towards high-density colocation services tied to AI workloads, with significant capital expenditures funded by CoreWeave [12].