B. Riley analyst Lucas Pipes raised the firm’s price target on Core Scientific to $14 from $13 and keeps a Buy rating on the shares. Core Scientific produced 345 BTC in September, down 3.6% month over month, with the decline due to a combination of miners migrating to their new data center and continued growth in global network hash rate and difficulty, the analyst tells investors in a research note. On the high performance computing capacity side, the firm believes CoreWeave remains the most likely taker of this capacity, but that Core Scientific will be able to fill the MW with another high-quality tenant in the case CoreWeave doesn’t execute.

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