Key Points
Clearline Capital LP bought 3,436,127 shares of Core Scientific; estimated transaction value $59.91 million (based on average price for the quarter)
Quarter-end position value increased $45.79 million, reflecting both trading and price appreciation
Trade size represented 2.96% of 13F AUM
Post-trade holding: 4,689,443 shares, valued at $68.28 million
The position now accounts for 3.37% of reportable AUM, placing it outside the fund’s top five holdings
- 10 stocks we like better than Core Scientific ›
What happened
According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Clearline Capital LP increased its stake in Core Scientific (NASDAQ:CORZ) by 3,436,127 shares. The quarter-end position value rose $45.79 million, a figure that reflects both share purchases and stock price movement.
What else to know
The post-trade position represents a buy, making up 3.37% of Clearline Capital’s 13F reportable AUM
Top holdings after the filing:
- NASDAQ: SATS: $96.04 million (7.2% of AUM)
- NASDAQ: TLN: $50.16 million (3.8% of AUM)
- NASDAQ: MU: $48.21 million (3.6% of AUM)
- NYSE: ROG: $43.30 million (3.3% of AUM)
- NYSE: PRMB: $40.78 million (3.1% of AUM)
As of February 17, 2026, shares were priced at $17.23, up 39.1% over the past year, outperforming the S&P 500 by 25.81 percentage points.
Company overview
| Metric | Value |
|---|---|
| Market Capitalization | $4.95 billion |
| Employees | 325 |
| Revenue (TTM) | $319.02 million |
| Net Income (TTM) | $-280.74 million |
Company snapshot
Core Scientific is a leading provider of digital asset mining and blockchain infrastructure services, leveraging large-scale datacenter facilities and proprietary software to support both proprietary mining and third-party hosting.
The company works in two main areas: equipment sales and hosting. This lets it benefit from both direct mining and enterprise customers who need secure, scalable blockchain solutions. Its integrated approach and large operations make it a key infrastructure provider in North America's digital asset market.
The company provides digital asset mining, blockchain infrastructure, and colocation hosting services, with revenue generated from mining operations, and hosting fees.
Core Scientific serves institutional digital asset miners, and enterprise clients seeking blockchain infrastructure solutions in North America.
What this transaction means for investors
The economics of Bitcoin mining are relatively straightforward. For operators such as Core Scientific Inc., profitability primarily depends on the difference between the market price of Bitcoin and the cost of production per coin. Key factors influencing operational costs include electricity prices, hardware efficiency, and facility utilization. Following the most recent Bitcoin halving, which reduced the block reward paid to miners, operational efficiency and access to low-cost energy have become increasingly critical.
What many investors may overlook is that companies like Core Scientific increasingly function as power infrastructure operators, not just cryptocurrency miners. Access to reliable electricity, specialized cooling systems, and high-density data center facilities has become the true competitive advantage. Mining hardware can be purchased by any operator, but securing large-scale power capacity and running efficient facilities is far harder to replicate.
For investors, the key question is whether Core Scientific can maintain a cost structure and infrastructure footprint that remains competitive across Bitcoin price cycles. The company mines Bitcoin directly but also hosts third-party miners in its facilities, using its data centers to generate additional revenue. Over time, operators that combine efficient mining with large-scale power infrastructure may begin to resemble specialized data center providers rather than purely speculative crypto miners.
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Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology and Primo Brands. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
