Core Scientific, Inc. Announces New CFO Appointment
Core Scientific, Inc. (CORZ), a leading provider of digital infrastructure for high-performance computing (HPC) and bitcoin mining, has officially announced the appointment of Jim Nygaard as its new Chief Financial Officer, effective March 17. This strategic move is seen as a key step in the company’s ongoing efforts to enhance its financial operations.
Nygaard, who has built a notable career as a finance executive, brings a wealth of experience in mergers and acquisitions, corporate finance, and capital markets, having previously held significant roles at XMS Capital Partners and Morgan Stanley. In a statement released on Monday, CEO Adam Sullivan expressed confidence in Nygaard’s capabilities, stating, “Jim’s deep financial expertise and strategic mindset will be instrumental as we continue scaling operations and driving shareholder value.”
Denise Sterling, the outgoing CFO, played a pivotal role in guiding the company through its Chapter 11 restructuring and successfully securing over $1 billion in capital. She will remain with the company until May 1 to ensure a seamless transition, following the transition plan that was initially announced on September 6.
This announcement coincides with Core Scientific’s recent declaration of a significant $1.2 billion expansion of its data centers in collaboration with CoreWeave, further underscoring the company’s commitment to growth and innovation in the digital infrastructure space.
As of the latest trading session, the stock has seen a 2% increase in pre-market trading, although it remains down over 20% year-to-date, reflecting the volatile nature of the market.
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