SCHEDULE: Valiant Capital Discloses 4.2% Stake in Core Scientific

Valiant Capital Management, L.P., along with its affiliates, has disclosed a 4.2% beneficial ownership stake in Core Scientific, Inc., totaling 13,120,302 shares of common stock.

Summary

• Valiant Capital Management, L.P., Valiant Capital Management, LLC, and Christopher R. Hansen jointly reported beneficial ownership of 13,120,302 shares of Core Scientific, Inc. Common Stock.
• This ownership represents 4.2% of the outstanding Common Stock of Core Scientific, Inc.
• The percentage is calculated based on 310,061,300 shares outstanding as of October 20, 2025, as reported in the issuer's Form 10-Q for the quarter ended September 30, 2025.
• The reporting persons hold shared voting and dispositive power over all 13,120,302 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Core Scientific, Inc.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, as a significant institutional investor taking a 4.2% stake suggests confidence in Core Scientific's valuation and future prospects, without indicating an activist position.

Positives

• A significant institutional investor, Valiant Capital Management, has taken a substantial position in Core Scientific, indicating confidence in the company's long-term prospects.
• The acquisition of shares was made in the ordinary course of business, suggesting a strategic investment rather than an activist play.

Future Outlook

NA

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

StockSavvy.ai notes that institutional investment in companies like Core Scientific, a major player in Bitcoin mining and data center operations, reflects ongoing interest in the digital asset infrastructure sector. Such disclosures provide transparency into significant ownership stakes, which can influence market perception and investor confidence in the underlying industry.

Stakeholder Impact

• Shareholders: Increased transparency regarding a significant institutional holder, potentially boosting confidence.
• Management: Awareness of a substantial, non-activist institutional investor on the shareholder register.

Key Dates

Recommendation

The filing indicates a significant institutional stake by Valiant Capital Management, which can be seen as a vote of confidence. However, as a Schedule 13G, it provides no new operational or financial data about Core Scientific, Inc. Therefore, while the institutional interest is positive, it doesn't fundamentally alter the investment thesis based solely on this disclosure, warranting a 'hold' for existing investors and further due diligence for potential new investors.

Keywords

Core Scientific, Valiant Capital Management, Christopher R. Hansen, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investment, SEC Filing, Bitcoin Mining, Data Center