• 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

Coca-Cola Stock Gets Bullish Ratings from Analysts

chest

Coca-Cola has received buy ratings from major analysts including Morgan Stanley and Citi, predicting a significant rise in the stock's value despite recent revenue misses.

user avatarRajesh Kumar

Regulatory Ambiguity Affects XRP Market Sentiment

chest

Discussions in Washington regarding crypto policy have left traders cautious due to regulatory ambiguity.

user avatarLucas Weissmann

American Bankers Association Highlights Insolvency Risks in Crypto Sector

chest

The American Bankers Association raises concerns about insolvency risks in the crypto sector, urging the Office of the Comptroller of the Currency to ensure adequate receivership capacities.

user avatarEmily Carter

American Bankers Association Urges Caution on Crypto Charter Approvals

chest

The American Bankers Association urges caution on crypto charter approvals, calling for a slowdown in the process until regulatory frameworks are established.

user avatarFilippo Romano

Accumulating Addresses Hold 27 Million ETH Amid Market Volatility

chest

A report reveals that accumulating addresses now hold approximately 27 million ETH, indicating strong long-term conviction despite market volatility.

user avatarTomas Novak

Intel Faces Mixed Analyst Ratings Amid Stock Volatility

chest

Intel faces mixed analyst ratings amid stock volatility, with Citic Securities upgrading to buy and JP Morgan issuing a sell rating.

user avatarMaya Lundqvist

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.