Over 10% of Bitcoin's blockchain network is run by Core Scientific. The ascent of Core Scientific marks the maturation and institutionalization of Bitcoin.Core Scientific could exceed $700M in EBITDA for FY22. It is currently valued at $2.7B despite being larger than Marathon Digital, Riot Blockchain, and Stronghold Digital Mining combined.Questionable allegations from a short seller have created an even more attractive entry, with 10M shares sold short (4x-10x daily volume) at a time when Bitcoin is rallying rapidly.Bitcoin mining has created a robust foundation that we anticipate will anchor the cryptocurrency ecosystem, with Core Scientific poised to provide industry leadership.Core Scientific has attracted an impressive list of talent from Microsoft, Wall Street, and Silicon Valley. It went public with backing from BlackRock.
