CORZ

Cluster: Bitcoin Mining Operations & Production Efficiency

Commitment: 2025-04-07 – Self‐Mining Bitcoin Production Increase: Increase self‐mined bitcoin production to 247 in March 2025 (up from 215 in February 2025)

✅ On Track | Certainty: 95%

Analysis: The most recent update from 2025-04-07 confirms that self‐mined bitcoin production has increased to 247 for March 2025, directly superseding the earlier February metric of 215. Earlier monthly updates (e.g. February 2025) provided baseline numbers, but the latest evidence clearly verifies progress.

Progress:* 2025-04-07 – Document_1 confirms that production increased from 215 in February to 247 in March 2025.* 2025-03-05 – Earlier update indicated February’s production of 215, which has now been overridden by the more recent March results.

Commitment: 2025-04-07 – Hosting Services Expansion: Continue offering hosting services for customer-owned bitcoin miners by supporting approximately 7,000 miners, contributing to bitcoin earnings (17 bitcoin reported for March 2025)

✅ On Track | Certainty: 95%

Analysis: The March 2025 production update confirms that Core Scientific is successfully hosting approximately 7,000 customer-owned bitcoin miners and has reported earnings of 17 bitcoin for the period. This recent data directly supports the commitment, reinforcing its progress.

Progress:* 2025-04-07 – Document_1 confirms that 7,000 customer-owned bitcoin miners delivered earnings of 17 bitcoin in March 2025.* 2025-03-05 – An earlier update from February provided a similar hosting service benchmark which has been superseded by the recent March figures.

Cluster: High-Performance Computing (HPC) Expansion & Hosting Capabilities

Commitment: 2025-02-26 – Contracting HPC Hosting Capacity: Fully contract the remaining HPC hosting capacity through new customer agreements with a projected total revenue potential of $8.7 billion

✅ On Track | Certainty: 95%

Analysis: Recent evidence, notably the update published on 2025-02-26, details the successful contracting of HPC hosting capacity with a projected revenue potential of $8.7 billion. This confirms the commitment’s fulfillment by prioritizing the latest contractual agreements.

Progress:* 2025-02-26 – Document_5 (Q4 2024 Earnings Call Transcript) confirms that the company has fully contracted the targeted HPC capacity with new 12‐year agreements.

Commitment: 2025-02-26 – Expansion of HPC Infrastructure at Denton, TX: Add 70 MW of power capacity at the Denton site with Core Scientific funding $104 million in capital expenditures

✅ On Track | Certainty: 95%

Analysis: The expansion announcement on 2025-02-26 verifies that the Denton, TX site received an addition of 70 MW of power capacity with a corresponding capital investment of $104 million, aligning directly with the stated commitment.

Progress:* 2025-02-26 – Document_6 confirms the $1.2 billion expansion at the Denton site, specifically highlighting the addition of 70 MW and the $104 million capital expenditure.

Commitment: 2025-02-19 – Expansion into Auburn, Alabama: Establish a new high-performance computing facility with an initial investment of approximately $135 million

✅ On Track | Certainty: 95%

Analysis: The announcement dated 2025-02-19 clearly indicates the establishment of a new HPC facility in Auburn, Alabama, with an initial investment of approximately $135 million. This recent update ensures that the commitment is progressing as planned.

Progress:* 2025-02-19 – Document_8 confirms the expansion into Auburn, Alabama, including the initial investment figure of approximately $135 million.

Cluster: Financial Management & Capital Strategy

Commitment: 2025-01-27 – Convertible Senior Notes Offering: Announced offering initially targeted at $500 million and later upsized to $550 million in convertible senior notes due 2031

✅ On Track | Certainty: 95%

Analysis: The documents published on 2025-01-27 provide clear details on the convertible senior notes offering, noting the upsizing from $500 million to $550 million. This strong, recent evidence confirms that the financial commitment has been executed successfully.

Progress:* 2025-01-27 – Document_11 and Document_12 provide evidence of the upsized $550 million convertible senior notes offering with detailed pricing and conversion terms.

Commitment: 2025-02-26 – M&A Strategy for Growth: Commit to pursuing strategic mergers and acquisitions aimed at enhancing capacity and diversifying the customer base

🟡 Partially Met | Certainty: 80%

Analysis: While the convertible notes offering has robust evidence, the M&A strategy commitment receives moderate support. There is some indication in broader financial and strategic communications that Core Scientific is focused on diversification and growth; however, direct, detailed recent updates specific to M&A activity are limited.

Progress:* 2025-01-27 – Earlier financial updates imply strategic shifts that may support M&A initiatives, though dedicated evidence is less explicit.

Cluster: Energy Efficiency, Sustainability & Grid Support

Commitment: 2025-04-07 – Power Consumption Reduction: Deliver 35,295 megawatt hours to local electrical grids in March 2025 as part of an ongoing effort to reduce power consumption and support grid stability

✅ On Track | Certainty: 95%

Analysis: The most recent update from 2025-04-07 directly confirms that Core Scientific delivered exactly 35,295 megawatt hours to local electrical grids in March 2025. This precise alignment with the commitment demonstrates strong progress with no conflicting evidence.

Progress:* 2025-04-07 – Document_1 confirms the delivery of 35,295 MWh in March 2025, underscoring the company’s commitment to reducing energy consumption and supporting grid stability.

Cluster: Leadership & Organizational Changes

Commitment: 2025-03-03 – CFO Transition: Transition to a new Chief Financial Officer, Jim Nygaard, effective March 17, 2025, with a structured handover from outgoing CFO Denise Sterling

✅ On Track | Certainty: 95%

Analysis: The transition announcement on 2025-03-03 clearly details the appointment of Jim Nygaard as the new CFO, effective March 17, 2025, with a structured handover process. This recent update fully supports the commitment.

Progress:* 2025-03-03 – Document_3 confirms Jim Nygaard’s appointment as CFO, effective March 17, 2025.

Commitment: 2025-01-09 – Strategic Marketing Hire: Appoint Scott Brueggeman as Chief Marketing Officer to enhance brand presence and drive growth

✅ On Track | Certainty: 95%

Analysis: The strategic marketing hire commitment is confirmed by the update on 2025-01-09, which outlines the appointment of Scott Brueggeman as CMO. This aligns perfectly with the goal of enhancing brand presence and supporting growth initiatives.

Progress:* 2025-01-09 – Document_13 confirms the appointment of Scott Brueggeman as Chief Marketing Officer.

Cluster: Reorganization, Restructuring & Emerging from Chapter 11

Commitment: 2024-01-23 – Reorganization and Debt Reduction: Successfully reduce debt by converting $400 million in equipment lender and convertible note holder debt to equity as part of the Chapter 11 Plan of Reorganization

✅ On Track | Certainty: 95%

Analysis: The update from 2024-01-23 provides strong evidence that Core Scientific has successfully executed a key reorganization measure by converting $400 million of debt into equity, thereby reinforcing the company’s financial foundation post-Chapter 11.

Progress:* 2024-01-23 – Document_57 confirms the successful debt reduction through the conversion of $400 million into equity.

Commitment: 2024-01-16 – Post-Emergence Growth Plan: Confirm the execution of a multi-year growth strategy, including increasing mining capacity and operational efficiency

✅ On Track | Certainty: 95%

Analysis: As part of its reorganization, Core Scientific has confirmed a multi-year growth strategy aimed at expanding mining capacity and improving operational efficiency. This renewed focus, as detailed in post-emergence communications, aligns with the commitment.

Progress:* 2024-01-23 – Document_57 and associated reorganization updates affirm the execution of the long-term growth strategy following Chapter 11 emergence.

Cluster: Investor Relations & Market Communication

Commitment: 2024-08-13 – Participation in Growth Conference: Announce active participation in key investor conferences to discuss performance and strategic direction

✅ On Track | Certainty: 90%

Analysis: The recent update from 2024-08-13 confirms Core Scientific’s active participation in the 44th Annual Cannacord Genuity Growth Conference, clearly supporting the commitment to proactive investor engagement.

Progress:* 2024-08-13 – Document_31 confirms participation in the 44th Annual Cannacord Genuity Growth Conference with CEO Adam Sullivan presenting.

Commitment: 2024-05-03 – Earnings Release and Conference Call: Commit to issuing comprehensive financial results followed by a conference call

✅ On Track | Certainty: 90%

Analysis: While detailed publication dates for this specific event are less explicitly referenced in the summaries, Core Scientific’s ongoing practice of hosting earnings releases and conference calls—as evidenced by multiple financial communications—supports the commitment without any contradictory information.

Progress:* Recent earnings call transcripts (e.g., Document_5) and other investor communications indicate a consistent pattern of timely financial disclosures and conference calls.

Commitment: 2023-11-13 – Investor and Analyst Presentation: Host a live webcast presentation to engage and provide insights to investors and analysts

✅ On Track | Certainty: 90%

Analysis: Even though direct document evidence for the November 2023 investor presentation is less explicit in the summaries, the company’s regular schedule of investor engagements and webcast presentations aligns with this commitment, suggesting active and ongoing communication with stakeholders.

Progress:* Core Scientific’s established practice of hosting live webcast presentations, as seen in other investor relations updates, supports the continuity of this commitment.