They say a shadow fell upon Oasis Management, and within that shadow, a stake was driven into Core Scientific. Twenty-six hundred shares, worth a respectable sum – thirty-eight and a half million, to be precise. It’s a curious thing, this dance of capital. The wealthy placing bets on the backs of servers, while the rest of us worry about heating bills.
The Numbers Tell a Story
The filings speak of a new position, a calculated risk. But let’s not mistake these numbers for charity. Oasis didn’t stumble into Core Scientific by accident. They saw something… or perhaps, they saw an opportunity to profit from the dreams of others. This 2.5% slice of their reportable assets isn’t a declaration of faith; it’s a carefully weighed gamble.
Consider their holdings: Vail Resorts, Hut 8… a pattern emerges. They’re not chasing the fleeting promise of cryptocurrency riches; they’re investing in the infrastructure that supports those promises. They’re building the cages, while the birds flutter within.
- Vail Resorts: $245.84 million (37.0% of AUM)
- Hut 8: $106.01 million (16.0% of AUM)
- VNET: $29.18 million (4.4% of AUM)
- STRS: $27.42 million (4.1% of AUM)
- RBA: $18.85 million (2.8% of AUM)
Core Scientific’s stock, up 44.6% in a year, outperforming the S&P 500 by a margin. A fleeting victory, perhaps. A momentary illusion of prosperity in a world built on shifting sands.
The Machine and its Servants
| Metric | Value |
|---|---|
| Price (as of market close 2026-02-12) | $17.48 |
| Market Capitalization | $5.42 billion |
| Revenue (TTM) | $334.18 million |
| Net Income (TTM) | ($768.31 million) |
Core Scientific, they say, provides digital asset mining, blockchain infrastructure, and colocation services. A grand title for a simple truth: they rent space to those who dream of digital gold. They are the landlords of the new frontier, profiting from the anxieties and aspirations of a generation.
Their dual business model – mining and hosting – is a clever one. They dig for the coins themselves, and they provide the shovels for others. A neat arrangement, if you happen to own the mine.
- Institutional miners and enterprises are their primary customers.
This isn’t about innovation; it’s about consolidation. Core Scientific isn’t building the future; it’s building the scaffolding upon which others hope to build the future.
A Shift in the Wind
Revenue is down, but colocation revenue is climbing. A subtle shift, but a significant one. They’re moving away from the volatile world of self-mining and towards the more stable realm of renting space. It’s a sign that even the most ardent dreamers eventually learn to count their pennies.
The net loss narrowed, they say. A small victory, but a victory nonetheless. It’s a reminder that even in the midst of chaos, there is always a glimmer of hope… or at least, a slightly smaller pile of debt.
Watch for this shift. This isn’t a bet on Bitcoin; it’s a bet on data centers. It’s a bet on the relentless march of technology, and the inevitable concentration of power in the hands of a few. It’s a reminder that in the new world, the real gold isn’t digital; it’s the space where the digital resides.
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2026-02-16 21:42