SCHEDULE: Valiant Capital Discloses 5.8% Stake in Core Scientific

Valiant Capital Management, L.P., along with its affiliates, has reported a 5.8% beneficial ownership stake in Core Scientific, Inc., holding over 18 million shares.

Summary

• Valiant Capital Management, L.P., Valiant Capital Management, LLC, and Christopher R. Hansen collectively beneficially own 18,120,502 shares of Core Scientific, Inc. Common Stock.
• This ownership represents 5.8% of Core Scientific, Inc.'s outstanding Common Stock.
• The percentage is calculated based on 310,061,300 shares of Common Stock outstanding as of October 20, 2025.
• The reporting persons hold shared voting and shared dispositive power over all 18,120,502 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Core Scientific, Inc.

Sentiment

Score: 6

Explanation: The filing indicates a significant institutional stake, which is generally a neutral to slightly positive signal of investor confidence, but it does not provide operational or financial performance details to warrant a stronger sentiment.

Positives

• The disclosure of a significant institutional stake (5.8%) by Valiant Capital Management, L.P., Valiant Capital Management, LLC, and Christopher R. Hansen in Core Scientific, Inc. may be interpreted by some investors as a vote of confidence in the company's long-term prospects.

Negatives

• The filing itself does not contain any negative information regarding Core Scientific, Inc.'s operations or financial health, as it is purely a disclosure of beneficial ownership.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance from Core Scientific, Inc. or the reporting persons regarding the company's future performance.

Industry Context

Core Scientific, Inc. operates in the cryptocurrency mining industry. The disclosure of a significant passive stake by an institutional investor like Valiant Capital Management can signal continued institutional interest in the digital asset sector and specific companies within it, potentially reflecting confidence in the long-term viability or growth prospects of such firms.

Stakeholder Impact

• Shareholders: The disclosure of a new or maintained significant institutional stake may be viewed positively, potentially increasing investor confidence and market visibility for Core Scientific, Inc.

Key Dates

Recommendation

The Schedule 13G filing indicates a significant institutional stake by Valiant Capital Management in Core Scientific. While this signals investor interest, the filing itself does not provide operational or financial performance data to warrant a 'buy' or 'sell' recommendation. It primarily serves as a disclosure of ownership, suggesting a 'hold' position for existing investors to monitor future developments.

Keywords

Core Scientific, Valiant Capital Management, Schedule 13G, beneficial ownership, institutional investor, common stock, crypto mining, blockchain