Core Scientific Appoints Jim Nygaard as CFO, Pre-Market Shares Rise
Bitcoin mining and high-performance computing (HPC) firm Core Scientific, Inc. (CORZ) has named Jim Nygaard as its new Chief Financial Officer (CFO), effective March 17.
Nygaard brings a wealth of experience in corporate finance, capital markets, and mergers and acquisitions, having held senior positions at XMS Capital Partners and Morgan Stanley. The company announced his appointment in a statement on Monday.
“Jim’s expertise will be key as we execute on our expansion plans and enhance long-term shareholder value,” said Core Scientific CEO Adam Sullivan.
Nygaard succeeds Denise Sterling, who played a pivotal role in leading the company through its Chapter 11 restructuring and securing over $1 billion in capital. Sterling will remain with Core Scientific until May 1 to facilitate a smooth transition. The succession plan was initially revealed on September 6.
This announcement follows Core Scientific’s recent $1.2 billion investment in expanding its data center operations in partnership with CoreWeave.
CORZ stock rose 2% in pre-market trading but remains down more than 20% for the year.
