Why a $7.3 Million Bet on Core Scientific Looked Smart at Quarter-End but Got Tested 30% Later

3 days ago 5

Jonathan Ponciano, The Motley Fool

Sun, December 28, 2025 astatine 10:35 AM CST 5 min read

Zurich-based PSquared Asset Management initiated a 405,800-share involvement successful Core Scientific during the 3rd quarter.
The presumption was worthy astir $7.28 cardinal arsenic of September 30.
The caller presumption represents astir 5.78% of reported 13F assets nether management.
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On November 13, Zurich-based PSquared Asset Management disclosed a caller presumption successful Core Scientific (NASDAQ:CORZ), acquiring 405,800 shares valued astatine astir $7.28 million.

According to a filing with the Securities and Exchange Commission dated November 13, PSquared Asset Management AG established a caller presumption successful Core Scientific during the 3rd quarter. The steadfast acquired 405,800 shares, bringing its end-of-quarter holding to $7.28 million, oregon 5.78% of its $125.97 cardinal successful U.S. equity assets. Core Scientific did not look successful the fund's erstwhile quarterly filing.

Top holdings aft the filing:

NYSE: K: $42.77 cardinal (34.0% of AUM)
NYSEMKT: SLSR: $25.04 cardinal (19.9% of AUM)
NYSE: TECK: $18.99 cardinal (15.1% of AUM)
NASDAQ: TASK: $11.34 cardinal (9.0% of AUM)
NASDAQ: HOLX: $8.42 cardinal (6.7% of AUM)

As of Friday, Core Scientific shares were priced astatine $15.29, up 5.5% implicit the past twelvemonth and good underperforming the S&P 500, which is up astir 15% successful the aforesaid period.

Metric

Value

Price (as of Friday)	$15.29
Market Capitalization	$4.74 billion
Revenue (TTM)	$334.18 million
Net Income (TTM)	($768.31 million)

Core Scientific provides integer plus mining, blockchain infrastructure, and colocation hosting services, generating gross from some proprietary mining and third-party hosting contracts.
The institution operates a dual concern model: mining integer assets for its ain relationship and offering datacenter colocation and hosting services for institutional-scale blockchain clients.
Primary customers see large-scale blockchain miners and enterprises seeking secure, high-performance infrastructure for distributed ledger operations successful North America.

Core Scientific, Inc. provides blockchain infrastructure and integer plus mining services, operating datacenter facilities crossed North America. The institution develops blockchain-based platforms and bundle solutions, mines integer assets for its ain account, and provides hosting and colocation services for large-scale blockchain clients.

At quarter-end, Core Scientific looked a batch similar a stabilizing integer infrastructure play. Hosting contracts were expanding, the equilibrium expanse had improved post-restructuring, and the projected CoreWeave merger offered a cleanable way to monetizing power-heavy information halfway assets. For a concentrated fund, the presumption acceptable a acquainted playbook: bargain into optionality portion sentiment was inactive repairing.

That discourse is captious due to the fact that a steep banal drawdown did not hap until precocious October, aft Core Scientific formally terminated its merger statement with CoreWeave erstwhile shareholders failed to o.k. the deal. Shares person fallen astir 30% arsenic investors repriced the nonaccomplishment of a wide catalyst and questioned the gait of the company’s pivot toward high-density colocation and AI-adjacent workloads. Operationally, however, small changed overnight. Core Scientific inactive controls invaluable powerfulness infrastructure and continues to displacement capableness distant from axenic bitcoin mining toward hosting and compute services. But without the merger, execution hazard moved backmost to halfway stage.