Core Scientific Appoints Former Investment Banker as New CFO

Core Scientific, Inc. (CORZ), a provider of digital infrastructure for high-performance computing (HPC) and bitcoin miner, has announced the appointment of Jim Nygaard as its new chief financial officer, effective Mar. 17.
Nygaard, a veteran finance executive, brings extensive experience in M&A, corporate finance, and capital markets from his tenures at XMS Capital Partners and Morgan Stanley, according to a statement on Monday.

“Jim’s deep financial expertise and strategic mindset will be instrumental as we continue scaling operations and driving shareholder value,” said CEO Adam Sullivan.

Outgoing CFO Denise Sterling, who led the company through its Chapter 11 restructuring and secured over $1 billion in capital, will remain until May 1 to ensure a smooth transition. The transition plan was previously announced on Sept. 6.
This comes after Core Scientific announced a $1.2 billion expansion of it’s data centers with CoreWeave.

The stock is up 2% in pre-market trading but down over 20% year-to-date.

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