Core Scientific, Inc. CORZW

Competitive advantage analysis · technology

Software & SaaS Specialized
Overall moat score
24/100
Weak

Ranked against 175 peers in Software - Infrastructure

About Core Scientific, Inc.

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 … Full CORZW analysis →

Key risks

  • Margin Compression Risk Margin quality is below peer norms (score 0.16), suggesting pricing pressure.
  • Returns Trail Peers Return profile is weak (score 0.04), pointing to limited capital efficiency.

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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Pricing Power

Weak
17
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Recurring Revenue Stickiness

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Signals, strengths and risks for Innovation Engine

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Signals, strengths and risks for Cash Scalability

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Balance Sheet Resilience

Where CORZW ranks in Software - Infrastructure

Core Scientific, Inc. ranks #156 of 176 scored companies in Software - Infrastructure by moat score — the top 89%. The widest moat in the group is Palantir Technologies Inc. (PLTR) at 78/100.

# Company Moat score Rating
152 MultiSensor AI Holdings, Inc. MSAIW 26/100 Developing
153 Veritone, Inc. VERI 25/100 Weak
154 Alpha Technology Group Limited ATGL 24/100 Weak
155 Arqit Quantum Inc. Warrants ARQQW 24/100 Weak
156 Core Scientific, Inc. CORZW 24/100 Weak
157 Arqit Quantum Inc. ARQQ 23/100 Weak
158 CISO Global, Inc. CISO 22/100 Weak
159 The OLB Group, Inc. OLB 20/100 Weak
160 Ryvyl Inc. RVYL 16/100 Weak

See every Software & SaaS company ranked by moat score →

How CORZW scores on the Software & SaaS Specialized defenses

Pricing Power

Score 17 · 20% of the moat score

In software, pricing power is visible in gross margin: a vendor that has to discount in order to renew gives it up first.

Recurring Revenue Stickiness

Score 32 · 18% of the moat score

Recurring revenue is the model's central claim, and it is a moat only when customers renew and expand without being re-sold each year.

Innovation Engine

Score 28 · 16% of the moat score

Software is competed away rather than depreciated, so a vendor that stops investing loses its category.

Cash Scalability

Score 38 · 18% of the moat score

The test of a software business is whether growth eventually stops consuming cash.

Capital Efficiency

Score 6 · 16% of the moat score

A software platform employs very little capital, so a genuine franchise should produce high returns on it without leverage.

Balance Sheet Resilience

Score 17 · 12% of the moat score

Software companies fund years of customer acquisition before those customers pay back, which makes access to capital a strategic variable rather than a treasury detail.

How each Software & SaaS Specialized defense is measured, in full →

Understanding CORZW's moat

What is Core Scientific, Inc.'s moat score?

Core Scientific, Inc. (CORZW) scores 24 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as weak. It ranks #156 of 176 scored companies in Software - Infrastructure, the top 89%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 175 companies in Software - Infrastructure. Its strongest defense is Cash Scalability (38/100) and its weakest is Capital Efficiency (6/100).

How does Core Scientific, Inc. compare with other Software - Infrastructure companies?

Core Scientific, Inc. ranks #156 of 176 scored companies in Software - Infrastructure by moat score. The widest moat in Software - Infrastructure is Palantir Technologies Inc. (PLTR) at 78/100. The companies ranked closest are Arqit Quantum Inc. Warrants (ARQQW) at 24 just above it and Arqit Quantum Inc. (ARQQ) at 23 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Software & SaaS Specialized 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 175 companies in Software - Infrastructure. The defenses are then weighted to produce the overall score out of 100.

Why is Core Scientific, Inc. scored with the Software & SaaS Specialized template?

Software costs almost nothing to reproduce, so the entire economic question is whether customers keep paying. Revenue is a subscription rather than a sale, the cost of winning a customer is paid years before that customer becomes profitable, and margins arrive only if renewals hold. The Software & SaaS template scores retention, reinvestment, and the point at which growth turns into cash.

Which competitive defenses are measured for Core Scientific, Inc.?

The Software & SaaS Specialized template measures 6 defenses, and CORZW scores: Pricing Power (17), Recurring Revenue Stickiness (32), Innovation Engine (28), Cash Scalability (38), Capital Efficiency (6), Balance Sheet Resilience (17). 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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