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.
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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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