Core Scientific, Inc. (CORZ), a leading provider of digital infrastructure for high-performance computing (HPC) and bitcoin mining, has officially announced the appointment of Jim Nygaard as its new Chief Financial Officer, effective March 17. This strategic decision comes as the company positions itself for further growth and operational scaling.
Jim Nygaard joins Core Scientific with a wealth of experience in M&A, corporate finance, and capital markets, having previously held significant roles at XMS Capital Partners and Morgan Stanley. As noted in a recent statement, CEO Adam Sullivan remarked, “Jim’s deep financial expertise and strategic mindset will be instrumental as we continue scaling operations and driving shareholder value.”
The transition follows Core Scientific’s previous announcement on September 6 regarding its CFO succession plan. Outgoing CFO Denise Sterling has been pivotal in guiding the company through its Chapter 11 restructuring and securing over $1 billion in capital. She will remain in her role until May 1 to ensure a smooth handover of responsibilities.
This leadership change comes on the heels of Core Scientific’s ambitious $1.2 billion expansion of its data centers in partnership with CoreWeave, a clear indication of the company’s commitment to enhancing its infrastructure capabilities. Currently, the stock has seen a slight increase of 2% in pre-market trading, although it remains down over 20% year-to-date, reflecting the volatility faced in the sector.
As Core Scientific moves forward under new financial leadership, the focus will be on identifying new avenues of growth and maximizing shareholder returns amidst an evolving digital landscape.
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