Core Scientific Struggles as Bitcoin Mining Rate Drops, While IREN Thrives with Bold Expansion Plans

Core Scientific Faces Decline in Bitcoin Mining Rate

According to a report by Investing.com Deutsch, Core Scientific (NASDAQ:CORZ) experienced a 16% drop in its stock value during pre-market trading. This decline followed the company's announcement of a reduced Bitcoin mining rate in February. The daily mining rate fell to an average of 7.7 self-mined Bitcoins, compared to 8.3 in January. Analyst Brett Knoblauch from Cantor Fitzgerald attributed this decrease to a slightly lower activated hash rate, despite an increase in the overall network hash rate. This marks a significant downturn for the company, with potential implications for its market performance.

Should this trend persist, it could result in the steepest daily decline since January 27, when crypto-related stocks faced a sell-off triggered by a model from the Chinese AI firm DeepSeek. The report highlights the challenges faced by Core Scientific amidst fluctuating market conditions and increasing competition in the Bitcoin mining sector. For more details, visit Investing.com Deutsch.

IREN Reports Strong Margins and Expansion Plans

IREN Limited (NASDAQ: IREN), a company specializing in Bitcoin mining and AI cloud services, reported robust mining margins in its February 2025 update, as per Investing.com Deutsch. The company achieved a 70% profit margin on its mining hardware, generating $43.9 million in revenue from mining 3,459 Bitcoins, with electricity costs amounting to $13 million. IREN plans to increase its operational hash rate to 50 EH/s within the next four months, potentially leading to annual operational cash flows of approximately $600 million under current market conditions.

Additionally, IREN has commenced construction on its 1.4-GW Sweetwater 1 project, expected to be operational by April 2026. The company is also finalizing agreements for its 600-MW Sweetwater 2 project to expand its data center capacity. IREN's diversification into high-performance computing (HPC) and AI services, including the Horizon 1 project, underscores its strategic shift to capture new market opportunities. For further insights, refer to the full report on Investing.com Deutsch.

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Article Summary

Core Scientific faced a 16% stock drop due to a reduced Bitcoin mining rate, while IREN reported strong margins and announced major expansion plans in the sector.