19.7
EH/s
24.8
J/TH
0
369
18.7
85%
832
Description
Core Scientific Inc. is a large-scale provider of digital infrastructure, blockchain hosting, and high-performance computing (“HPC”) data center solutions headquartered in Austin, Texas with multi-megawatt facilities across the US. The Company utilizes its advanced power infrastructure to support both enterprise digital asset mining and high-density AI compute applications.
2100 Grand Avenue
Suite 500
Kansas City, MO 64108
United States
425 454 3830
Sector(s): Technology
Industry: Software - Infrastructure
Full Time Employees: 280
President and Chief Executive Officer
Current Chief Executive Officer of Core Scientific, Inc. Mr. Sullivan has more than a decade of experience in financial services, with a focus on investment banking in the digital assets and infrastructure space.
His expertise spans strategy development, corporate finance and M&A. Prior to joining Core as President in 2023, Adam served as a Managing Director and Head of Digital Assets and Infrastructure at XMS Capital Partners. In his role at XMS, Mr. Sullivan established himself as one of the key facilitators for M&A and capital raises in the crypto mining industry, overseeing more than $5 billion of transactions, including Core Scientific’s business combination with Power & Digital Infrastructure Acquisition Corp. (“XPDI”) (NASDAQ: XPDI) in 2021.
He previously served at Indian Wells Capital Management and M&T Bank. Mr. Sullivan received his Bachelor of Arts in Financial Economics from the University of Rochester.
Chief Financial Officer
Jim Nygaard is the Chief Financial Officer of Core Scientific, leading the company’s financial strategy, capital allocation, and investor relations. With nearly 30 years of investment banking and corporate finance experience, Jim brings deep expertise in M&A, corporate finance, and capital markets to support Core Scientific’s growth and strategic initiatives.
Since 2008, he has served as a Managing Director at XMS Capital Partners, LLC, leading M&A execution activities, strategic financings, and chairing the firm’s Fairness Committee. From 2021 to 2022, Jim served as Chief Financial Officer of Power & Digital Infrastructure Acquisition Corp. (XPDI), which merged with Core Scientific. Prior to XMS Capital, Jim spent 12 years in Morgan Stanley’s Investment Banking Division, advising a diverse group of clients across a variety of industries. His career deal experience includes over $100 billion of strategic transactions and financings.
A summa cum laude graduate of the University of Illinois at Urbana-Champaign with a Bachelor of Arts in Economics, he was valedictorian of his department and received Bronze Tablet Honors, the university’s highest academic distinction.
Chief Operating Officer
Matt has over 15 years experience working in operations and engineering management. He has a strong background in infrastructure strategy and management, site engineering and data center operations.
Previously Matt was at Equinix, where he was the Senior Director – Americas IBX Operations. While at Equinix, he was responsible for 200 data centers, 380,000 cabinets and 1,000MW of critical infrastructure. Prior to Equinix, Matt spent 12 years at Hewlett Packard where he was responsible for end-to-end data center infrastructure services. Matt started his career at with the US Army as a Tactical Node Center Switch Supervisor. Matt holds a BS in Organizational Leadership from Texas A&M – Commerce and an AAS in Information Technology from Central Texas College.
Chief Technology Officer
Dr. Larry Kom, MPA, PhD is a technology leader with 25 years of experience developing scalable compute infrastructure and optimized workflows through digital oversight. He founded and sold 3 startups in mobile, iGaming, and cryptocurrency. He is a digital forensics researcher, financial system auditor, software system architect, and industrial power and automation engineer. His academic focus is antifraud, internal controls, and vulnerability analysis
Grand Forks, North Dakota
100 MWAuburn, AL
16 MWMuskogee, OK
100 MWAustin, Texas
20 MWPecos, Texas
250 MWDenton, Texas
391 MWCalvert City, Kentucky
150 MWMarble, North Carolina
103 MWDalton, Georgia
195 MW
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Nov. 07, 2024 | 10:00AM EST | Power Mining Analysis
- Core Scientific emerged from Chapter 11 bankruptcy, securing a $460M convertible note to strengthen financials and support acquisitions, including a new site in Alabama to boost Bitcoin mining and HPC growth.
- Core Scientific contracted 570 megawatts to CoreWeave, positioning itself as a leader in the HPC market, capitalizing on increased demand and enhancing operational capabilities.
- The company utilizes a $750M credit line and strategic client partnerships to fund major projects without adding financial strain, minimizing the need for new capital and ensuring sustainable growth.
- Focus on self-mining and tech advancements to maximize Bitcoin holdings amidst market volatility, boosting profitability and solidifying industry position.
- With over 700,000 machines in operation, Core Scientific emphasizes repair-friendly, cost-efficient equipment, using on-site repair teams and data-driven forecasting to enhance long-term efficiency.
- CEO Adam Sullivan’s leadership sets industry benchmarks, reflecting a pioneering approach to recovery, expansion, and innovation, positioning Core Scientific for continued success in Bitcoin mining and HPC.
Core Scientific's trajectory is witnessing a major transformation as they report outstanding achievements from 2024 and aggressive plans for 2025. Adam Sullivan shares insights into their breakthrough contracts, focus on high-performance computing, and strategies for sustainable growth in the Bitcoin mining sector.