Citadel Securities disclosed a 5.5% passive stake in Core Scientific (NASDAQ: CORZ) on Wednesday, revealing an aggregate beneficial ownership of 17.2 million shares as of December 3.
The disclosure follows a volatile period for Core Scientific, highlighted by a failed shareholder vote on a $9 billion all-stock acquisition offer from CoreWeave (Nasdaq: CRWV).
While the stake makes Citadel one of the miner’s notable institutional holders, the position is tied to market-making activities rather than a long-term directional bet. Market makers typically act as intermediaries to ensure smooth trading, holding inventory to manage risk and profit from bid-ask spreads rather than holding stock for capital appreciation.
Followed by the stock acquisition, Citadel joins a roster of major hedge fund owners that includes Susquehanna International Group, event-driven fund Pentwater Capital Management owning 24.3 million shares, and AI-focused Situational Awareness owning 20.2 million shares.This also marks a broader trend for Citadel in the sector; the firm recently disclosed a similar 5.4% stake in rival miner Terawulf (NASDAQ: WULF) as of December 1.
