Jim Cramer’s Latest Lightning Round: 12 Stocks to Watch

5. Core Scientific, Inc. (NASDAQ:CORZ)

Number of Hedge Fund Holders: 53

Cramed called Core Scientific, Inc. (NASDAQ:CORZ) a cold stock because of its various services and solutions.

“Okay. This is a very big cold stock because it’s got blockchain and infrastructure, artificial intelligence. It’s a mini Palantir. So I think you should just go buy Palantir.”

Core Scientific (NASDAQ:CORZ) offers digital asset mining services across North America, providing a range of offerings that include blockchain infrastructure, software solutions, and operational support through its data centers. The company not only engages in mining digital assets for its own account but also extends its services to host large-scale Bitcoin miners. Additionally, it supplies electrical power and infrastructure services essential for maintaining operations, as well as selling mining equipment to its customers.

In early June, Core Scientific (NASDAQ:CORZ) entered into a 12-year agreement with AI cloud provider CoreWeave, aimed at delivering high-performance computing power. The contract has the potential to generate an estimated $3.5 billion in revenue over its duration, highlighting the company’s expanding role in the intersection of digital asset mining and AI computing.

The company reported achievements in September, including the self-mining of 345 Bitcoins for the month, which brought its year-to-date total to 5,621 Bitcoins, with 1,115 mined in the third quarter alone. Furthermore, clients utilizing its data centers earned approximately 66 Bitcoins during the same period. Adam Sullivan, the CEO, noted ongoing initiatives to support the company’s expansion into high-performance computing. Specifically, construction is underway for a 100-megawatt data center in Muskogee, Oklahoma, and the company is on track to complete a similar expansion in Pecos, Texas.

He said that Core Scientific (NASDAQ:CORZ) remains focused on developing advanced infrastructure equipped with state-of-the-art liquid cooling systems, tailored for AI GPU cloud workloads, with plans to begin service for its HPC customers in the first half of 2025.