Core Scientific, Inc. provides digital asset mining services in the United States. It operates through three segments: Digital Asset Self-Mining; Digital Asset Hosted Mining; and HPC Hosting. The company offers digital infrastructure, software solutions, and services; and operates licensing data center space facilities. It also deploys and operates own large fleet of miners within owned digital infrastructure as part of …
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Competitive advantage assessment
Key strengths
Margins Stable Across CyclesOperating margin volatility is low (stability score 1.00), demonstrating pricing resilience across cycles.
Cash Generation ConsistentCash generation is consistent (score 0.90), indicating reliable business model.
Key risks
ROIC Below WACC or PeersROIC at 0th percentile suggests inefficient capital deployment.
Revenue Volatility Signals Weak StickinessRevenue volatility is high (stability score 0.30), suggesting weak customer stickiness.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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Core Scientific, Inc. ranks #5 of 11
scored companies in Crypto Mining & Compute by moat score — the top 45%.
The widest moat in the group is CleanSpark, Inc. (CLSK)
at 82/100.
Moat scores for companies ranked near CORZ in Crypto Mining & Compute
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 80
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 50
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 10
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 58
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 52
· 15% of the moat score
Scale matters only when it converts into economics.
Core Scientific, Inc. (CORZ) scores 52 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #5 of 11 scored companies in Crypto Mining & Compute, the top 45%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 10 companies in Crypto Mining & Compute. Its strongest defense is Cost Advantage (80/100) and its weakest is Capital Efficiency (10/100).
How does Core Scientific, Inc. compare with other Crypto Mining & Compute companies?
Core Scientific, Inc. ranks #5 of 11 scored companies in Crypto Mining & Compute by moat score. The widest moat in Crypto Mining & Compute is CleanSpark, Inc. (CLSK) at 82/100. The companies ranked closest are HIVE Digital Technologies Ltd (HIVE) at 53 just above it and Bitfarms Ltd. (BITF) at 48 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 10 companies in Crypto Mining & Compute. The defenses are then weighted to produce the overall score out of 100.
Why is Core Scientific, Inc. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Core Scientific, Inc.?
The Corporate Default template measures 6 defenses, and CORZ scores: Pricing Power (76), Cost Advantage (80), Customer Stickiness (50), Capital Efficiency (10), Resilience (58), Scale & Market Position (52). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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