Core Scientific (CORZ) — Market Cap vs Bitcoin NAV
Core Scientific (CORZ) currently trades at a market cap vs Bitcoin NAV ratio of 81.69x, which means the market values the company at 8069.2% premium to the underlying Bitcoin holdings. With 848 Bitcoin on its balance sheet worth $68,601,576 at the live spot price, and a market capitalisation of $5,604,169,600, CORZ holds rank #11 of 68 tracked Bitcoin treasury companies by this metric on HodlingBTC.
How CORZ's Market Cap vs Bitcoin NAV Is Calculated
The market cap vs Bitcoin NAV ratio for Core Scientific is computed as the company's market capitalisation divided by the product of its disclosed Bitcoin holdings and the Bitcoin spot price. At the last update the inputs for CORZ were a market cap of $5,604,169,600, 848 BTC, and a Bitcoin spot price of 80,898. The resulting ratio of 81.69x quantifies how much premium (or premium, when above 1.0x) the equity market is assigning to CORZ beyond the value of the underlying Bitcoin treasury. A ratio above 1.0x means the company is trading at a premium to the value of its Bitcoin stash; below 1.0x means a discount. The number does not account for operating businesses, capital structure, debt, preferred shares, or other liabilities that sit between common shareholders and the underlying Bitcoin.
What 81.69x Means for Core Scientific Shareholders
Core Scientific's ratio of 81.69x places the stock at a 8069.2% premium to its Bitcoin NAV. When investors pay a premium for a Bitcoin treasury equity, the additional value typically reflects the company's operating business, ability to issue new shares accretively, exposure to future Bitcoin acquisition, or simply the convenience of holding Bitcoin exposure inside a regulated equity wrapper. Premiums can compress quickly if dilution accelerates or if the underlying Bitcoin acquisition slows. The ratio is one input among several; capital structure, debt obligations, share class differences, and operating cash flow all influence what shareholders actually receive per share of CORZ.
CORZ vs Other Bitcoin Treasury Companies
How CORZ compares against the 4 companies ranked closest by market cap vs Bitcoin NAV ratio on HodlingBTC's tracker:
| # | TICKER | COMPANY | HQ | RATIO |
|---|---|---|---|---|
| 9 | RUM | Rumble Inc. | 🇨🇦 | 127x |
| 10 | 3659 | NEXON Co., Ltd. | 🇯🇵 | 112x |
| 11 | CORZ | Core Scientific | 🇺🇸 | 81.69x |
| 12 | HIVE | HIVE Digital Technologies | 🇨🇦 | 69.28x |
| 13 | ARLP | Alliance Resource Partners, L.P. | 🇺🇸 | 67.32x |
See the full ranking for every public Bitcoin treasury company on the Market Cap vs Bitcoin NAV page.
Frequently Asked Questions
What is Core Scientific (CORZ)'s market cap vs Bitcoin NAV ratio?
Core Scientific trades at a market cap vs Bitcoin NAV ratio of 81.69x, calculated as its market capitalisation of $5,604,169,600 divided by the value of its 848 BTC holdings ($68,601,576 at the last recorded Bitcoin spot price). This represents a 8069.2% premium to the underlying Bitcoin NAV.
Why is CORZ trading at a premium to its Bitcoin NAV?
premium values reflect the market's view of Core Scientific beyond its Bitcoin holdings alone. A premium typically indicates investors are paying extra for the company's operating business, capital structure access, optionality on future Bitcoin accumulation, or the convenience of equity exposure to BTC.
How often is CORZ's market cap vs Bitcoin NAV updated on HodlingBTC?
The figures on this page are a snapshot, recalculated a few times each trading day rather than quoted live. Bitcoin spot price is sourced from Coinbase, market capitalisation from the latest available share count multiplied by the most recent stock price, and BTC holdings from the most recent disclosed figure in Core Scientific's SEC or primary-source filings.