12 Best IPO Stocks to Buy in 2025

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2. Core Scientific Inc. (NASDAQ:CORZ)

Average Upside Potential as of March 21: 121.19%

Number of Hedge Fund Holders: 66

Core Scientific Inc. (NASDAQ:CORZ) provides digital asset mining services in the US. It operates across self-mining, hosted mining, and high-performance computing (HPC). It offers infrastructure, software, and data center solutions. It facilitates blockchain transactions, hosts mining equipment, and provides essential services for the digital asset industry.

The company’s main source of growth is HPC. It signed a major 12-year deal with CoreWeave which is worth $8.7 billion. This exceeded its $500 million revenue from 2024, which mainly came from Bitcoin mining. CoreWeave is a cloud computing provider that offers GPU-accelerated computing infrastructure. By the end of 2024, Core Scientific Inc. (NASDAQ:CORZ) had contracts for 1,300+ megawatts of power. It’s expanding its Denton facility by 70 megawatts and adding another $1.2 billion to the CoreWeave contract. It plans to have 250 megawatts online by the end of 2024 and 590 megawatts by early 2027.

The company is working to get more HPC customers with an aim to have CoreWeave make up less than 50% of its business by 2028. It also plans to add 300 megawatts of capacity at its current locations and another 400 megawatts at new sites by 2027. In Q4 2024, it made $8.5 million from HPC hosting.

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