Core Scientific Set to Join Russell 3000® Index

Rhea-AI Summary

Core Scientific (NASDAQ: CORZ) has been included in the Russell 3000 Index effective June 27, 2022, following the annual reconstitution. This inclusion recognizes the company's strong market position in blockchain data centers and software solutions, less than six months post-IPO. Core Scientific's CEO, Mike Levitt, expressed optimism for future growth and shareholder value creation. Russell indexes are significant benchmarks for investment strategies, with around $12 trillion in assets linked to them.

Positive

• Inclusion in the Russell 3000 Index acknowledges Core Scientific's strong market presence.
• Less than six months post-IPO, the company achieved significant index status.
• Core Scientific's operations are positioned for potential growth, enhancing shareholder value.

Negative

• None.

AUSTIN, Texas--(BUSINESS WIRE)-- Core Scientific, Inc. (NASDAQ: CORZ) ("Core Scientific" or “the Company”), a leader in high-performance blockchain data centers and software solutions, is set to join the Russell 3000^® Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the US market opens today, June 27, according to a preliminary list of additions posted June 3.

Core Scientific's Marble, NC Data Center (Photo: Business Wire)

Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6, ranking them by total market capitalization. Membership in the US all-cap Russell 3000^® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000^® Index or small-cap Russell 2000^® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

“Inclusion in the Russell 3000 index less than six months after we became a public company represents an important acknowledgement of Core Scientific’s business fundamentals and strong position as a blockchain data center leader,” said Mike Levitt, Core Scientific’s Chief Executive Officer. “We look forward to continued engagement with the investment community as we execute our growth plans to create shareholder value.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 3000^® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

ABOUT CORE SCIENTIFIC

Core Scientific is one of the largest publicly traded blockchain data center providers and miners of digital assets in North America. Core Scientific has operated blockchain data centers in North America since 2017, using its facilities and intellectual property portfolio that has grown to more than 70 patents or applications for collocated digital asset mining and self-mining. Core Scientific operates data centers in Georgia, Kentucky, North Carolina, North Dakota and Texas, and expects to commence operations in Oklahoma in the second half of 2022. Core Scientific’s proprietary Minder® fleet management software combines the Company’s colocation expertise with data analytics to deliver maximum uptime, alerting, monitoring and management of all miners in the Company’s network. To learn more, visit http://www.corescientific.com.

ABOUT FTSE RUSSELL

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com.

For additional media and information, please follow us

https://www.linkedin.com/company/corescientific/
https://twitter.com/core_scientific

View source version on businesswire.com: https://www.businesswire.com/news/home/20220627005289/en/

Investors:

Steven Gitlin

ir@corescientific.com

Media:

press@corescientific.com

Source: Core Scientific, Inc.

FAQ

When did Core Scientific join the Russell 3000 Index?

Core Scientific joined the Russell 3000 Index on June 27, 2022.

What is the significance of joining the Russell 3000 Index for Core Scientific?

Joining the Russell 3000 Index represents an acknowledgment of Core Scientific's strong business fundamentals and market position.

How many assets are benchmarked against the Russell 3000 Index?

Approximately $12 trillion in assets are benchmarked against the Russell 3000 Index.

What is the relation between the Russell 3000 Index and Core Scientific's stock?

Inclusion in the Russell 3000 Index can lead to increased visibility and investment interest for Core Scientific's stock, potentially enhancing its market performance.