Core Scientific Welcomes Jim Nygaard as CFO, Shares Tick Up Pre-Market

Core Scientific, Inc. (CORZ), a major player in bitcoin mining and high-performance computing (HPC) infrastructure, has appointed Jim Nygaard as its new Chief Financial Officer (CFO), effective March 17.

Nygaard, a seasoned finance executive with a background in corporate finance, mergers and acquisitions, and capital markets, previously held key positions at XMS Capital Partners and Morgan Stanley. His appointment was announced in a company statement on Monday.

“Jim’s financial leadership and strategic vision will help propel Core Scientific’s growth as we continue expanding operations and optimizing shareholder value,” said CEO Adam Sullivan.

Nygaard succeeds Denise Sterling, who led the company through its Chapter 11 restructuring and helped secure over $1 billion in capital. Sterling will stay on until May 1 to facilitate a seamless transition. The company first announced its CFO succession plan on September 6.

This leadership shift comes on the heels of Core Scientific’s $1.2 billion data center expansion in partnership with CoreWeave.

CORZ shares rose 2% in pre-market trading but remain down more than 20% year-to-date.