12 Best Up and Coming Stocks to Buy According to Wall Street Analysts

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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 in self-mining, hosted mining, and HPC hosting, and offers infrastructure, software, and data center solutions. It deploys and operates mining equipment, provides hosting services, and delivers essential support for blockchain transaction processing.

The company is transitioning its primary revenue source from Bitcoin mining to High-Performance Computing (HPC). This is highlighted by an $8.7 billion, 12-year contract with CoreWeave, which is a GPU-accelerated cloud provider. It surpassed its $500 million in 2024 revenue. By the end of 2024, the company secured contracts for over 1,300 megawatts of power, with plans to expand its Denton facility by 70 megawatts and add $1.2 billion to the CoreWeave contract. It aims for 250 megawatts online by the end of 2024 and 590 megawatts by early 2027.

To diversify its HPC customer base, Core Scientific Inc. (NASDAQ:CORZ)  aims to reduce CoreWeave’s contribution to less than 50% of its business by 2028. It intends to add 300 megawatts of capacity at existing sites and 400 megawatts at new sites by 2027. In Q4 2024, the company generated $8.5 million from HPC hosting, which showcased the beginning of its shift towards becoming a major player in the HPC market.

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