SEC Filings

MFN Partners Reports 7.6% Passive Stake In Core Scientific, Nearly A Third In Options

The Boston adviser's position covers 16.7 million shares plus options on 7.8 million more, and it says it is not seeking control.

Matteo Parrino Jonathan Ponciano

Matteo Parrino, Jonathan Ponciano

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MFN Partners Reports 7.6% Passive Stake In Core Scientific, Nearly A Third In Options

MFN Partners, a Boston investment adviser, holds a 7.6% passive stake in Core Scientific, which runs AI-focused data centers and mines bitcoin, according to a Schedule 13G (a passive ownership disclosure) filed Wednesday. Nearly a third of the 24,488,600 shares counted are options rather than stock the fund owns outright.

Shares plus options

Of the total, 16,700,000 are common shares and 7,788,600 are issuable on exercise of options, so the percentage counts shares MFN could acquire as well as shares it holds. The filing gives October 13 as the event date.

The percentage rests on 321,340,441 shares outstanding as of July 23, 2026, the count in Core Scientific's quarterly report.

The partnership, MFN Partners, LP, holds the shares directly. Five affiliates joined the filing, including managing members Michael F. DeMichele and Farhad Nanji, and all six share voting power over the full 24,488,600 shares. The filers certified the shares were not acquired to change or influence control of the company.

A data-center landlord under pressure

Core Scientific designs, builds and operates data centers that rent out space, power and cooling for AI and other high-performance computing. It also mines digital assets such as bitcoin, which made up most of its 2025 revenue. At the end of 2025 it owned or leased ten data centers across seven states, with about 920 megawatts of leasable customer power capacity.

The stock has been under strain. Shares sank to their lowest close in more than a year on Friday in a selloff of so-called neocloud stocks, according to a Yahoo Finance commentary. Shareholders blocked a $9 billion CoreWeave takeover in October 2025, and CoreWeave has leased space from the company.

Crusoe CEO Chase Lochmiller called the recent angst "overblown," Seeking Alpha reported.

Shares near the low end of the range

Core Scientific closed Wednesday at $15.00, for a market value of $4.6 billion. Its 52-week range runs from $12.31 to $30.46, putting that close in the lower half.

Core Scientific's next earnings report is listed for November 5, according to its Yahoo Finance page.

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