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By James Van Straten, CoinDesk Bot|Edited by Aoyon Ashraf
Updated Mar 3, 2025, 1:10 p.m. UTCPublished Mar 3, 2025, 1:09 p.m. UTC
What to know:
- Jim Nygaard, a seasoned investment banker with nearly 30 years of expertise, will step in as Core Scientific’s new CFO.
- Outgoing CFO Denise Sterling played a pivotal role in guiding the company through its successful restructuring and capital-raising efforts.
- Core Scientific’s share price is up 2% in pre-market trading.
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.
STORY CONTINUES BELOW
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.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
“CoinDesk Bot” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy here.
