New CFO at Core Scientific: Former Banking Exec Takes the Helm

Core Scientific Names Jim Nygaard as CFO, Stock Gains in Pre-Market

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

Nygaard, a finance industry veteran with expertise in mergers and acquisitions, corporate finance, and capital markets, previously held key roles at XMS Capital Partners and Morgan Stanley. The company announced his hiring in a statement on Monday.

“As we continue scaling our operations and expanding our infrastructure, Jim’s financial acumen and strategic insights will be invaluable,” said CEO Adam Sullivan.

He replaces Denise Sterling, who played a critical role in navigating Core Scientific through its Chapter 11 restructuring and securing over $1 billion in capital. Sterling will remain with the company until May 1 to oversee a smooth transition. The CFO succession plan was initially disclosed on September 6.

The leadership change follows Core Scientific’s recently announced $1.2 billion data center expansion in collaboration with CoreWeave.

Shares of CORZ are up 2% in pre-market trading, though the stock remains down over 20% year-to-date.