• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Canaccord Evaluates Core Scientific's Prospects

user avatar

by Giorgi Kostiuk

a year ago

  1. Buy Rating for Core Scientific
  2. Significance of the CoreWeave Contract
  3. Factors Influencing Core Scientific's Stock Growth


    4. Brokerage firm Canaccord has initiated coverage of Core Scientific, one of the largest Bitcoin mining companies, with a 'buy' rating.

    Buy Rating for Core Scientific

    Brokerage firm Canaccord has given Core Scientific a 'buy' rating due to the company's prospects of becoming a significant player in the field of artificial intelligence (AI) hosting.

    Significance of the CoreWeave Contract

    According to Canaccord, the 12-year contract that Core Scientific signed with hyperscaler CoreWeave in June is a pivotal moment for the industry. This contract is considered the first major deal between a mining company and a high-performance computing (HPC) provider for AI hosting.

    Factors Influencing Core Scientific's Stock Growth

    Canaccord analysts highlight three positive drivers for Core Scientific's stock: ramping revenue in AI hosting, improved cash flow, and potential new site acquisitions. The price target for the stock is $16, with $12 attributed to the CoreWeave contract, $3 to additional AI hosting power supply, and $1 to the Bitcoin mining business.

    Core Scientific receives high marks from Canaccord analysts due to its strategic approach and potential in AI hosting.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Increased Social Media Interest in Ethereum Amid Market Fluctuations

chest

Ethereum is seeing heightened interest on social media due to its price movements and investment strategies.

user avatarElias Mukuru

Leaked Emails Show Bill Gates Foundation Evaluating Ripple's Technology

chest

Leaked emails from the Bill Gates Foundation reveal early assessments of Ripple and Stellar compared to the Mojaloop payment platform.

user avatarMohamed Farouk

Luke Dashjr Demands Adam Back Resign Following Epstein Document Release

chest

Luke Dashjr calls for Adam Back's resignation following Epstein document release linking him to the cryptocurrency industry.

user avatarDiego Alvarez

Shiba Inu Marketing Lead Emphasizes Execution Over Price for Recovery

chest

Lucie, the Shiba Inu marketing lead, emphasizes the importance of execution over price for rebuilding confidence in the Shiba Inu ecosystem.

user avatarKenji Takahashi

Debate on Post-Quantum Security in Bitcoin Intensifies

chest

A heated discussion erupted among Bitcoin developers regarding the urgency of addressing post-quantum security.

user avatarMaria Fernandez

Crypto Analyst Predicts XRP Price Could Reach $7

chest

Crypto analyst Diana predicts XRP price could rally to $7, indicating a 450% gain based on technical setups.

user avatarGustavo Mendoza

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.