Core Scientific Legal Chief Sells $5.9 Million Amid AI Rally Boost
A trust tied to Core Scientific (NASDAQ: CORZ)’s chief legal officer has filed to sell 140,000 shares of the company, capping a three-month stretch of planned insider stock sales as the bitcoin miner-turned-AI infrastructure developer trades near multiyear highs.
The Todd DuChene Revocable Trust filed a Form 144 notice on July 6 to sell 140,000 Core Scientific shares with an aggregate market value of about $3.0 million, according to a filing submitted on Monday. The shares were acquired through restricted stock units and a tender transaction, the filing shows.
The proposed sale follows a series of 12 prior 10,000-share disposals disclosed in the same filing, totaling 120,000 shares and about $2.92 million in gross proceeds since April 13. With the latest 140,000-share block being completed at the indicated value, the trust’s disclosed sales over the period total 260,000 shares for about $5.92 million in gross proceeds.
The trades were carried out under a Rule 10b5-1 trading plan adopted in December 2025, according to the filing. The plan covered up to 520,000 shares to be sold between April 1, 2026, and March 31, 2027, if certain conditions were met. Including the July 6 notice, the disclosed disposals represent half of the shares covered by that plan.
DuChene is Core Scientific’s chief legal and administrative officer, a role that places him among the senior executives overseeing the company’s legal, governance and transactional work. A separate Form 4 filed last week showed DuChene sold 10,000 shares on June 29 under the same prearranged trading plan and had another 5,469 shares withheld on June 30 to satisfy tax obligations tied to restricted stock unit vesting. Following those transactions, he directly owned about 2 million Core Scientific shares.
The latest sale comes during a sharp strategic transition for Core Scientific, which emerged from bankruptcy in 2024 and has since repositioned itself from primarily bitcoin mining toward high-density colocation and AI infrastructure. The company said in May that first-quarter revenue rose to $115.2 million from $79.5 million a year earlier, driven by a surge in colocation revenue to $77.5 million from $8.6 million. Self-mining revenue fell to $30.1 million from $67.2 million, reflecting the company’s continued shift away from bitcoin mining.
Core Scientific has also been expanding its power pipeline to support AI data center demand. The company said in May it had increased its gross power capacity pipeline to 4.5 gigawatts, including planned 1.5-gigawatt expansions at both its Muskogee, Oklahoma, and Pecos, Texas, campuses. It also closed on a roughly $233 million acquisition of land and power in Hunt County, Texas, expected to support about 430 megawatts of gross power capacity.
