Core Scientific said on Sept. 6, 2024, that Denise Sterling would leave her post as chief financial officer. Her last day was set for May 1, 2025, or the day a new CFO started, whichever came first1. The Austin, Texas, miner already had a search underway, with an executive search firm hired to find Sterling's replacement. Chief executive Adam Sullivan announced the plan alongside Sterling in the company's own press release.
One of Core Scientific's 8 leadership moves on the record came in 2024
Leadership moves CryptoLately has verified at Core Scientific, by year
- 2024: 1
- 2023, 2025, 2026
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2023 | 1 |
| 2024 | 1 |
| 2025 | 4 |
| 2026 | 2 |
11 executive exits on the record in 2024
Executive exits CryptoLately has verified, by year; 2026 through Oct. 2, 2026
- 2024: 11
- 2019, 2020, 2021, 2022, 2023, 2025, 2026
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2019 | 6 |
| 2020 | 1 |
| 2021 | 9 |
| 2022 | 9 |
| 2023 | 8 |
| 2024 | 11 |
| 2025 | 20 |
| 2026 | 27 |
The move
Chief executive Adam Sullivan credited Sterling's work during the company's turnaround. “Denise led our Finance team with poise and exceptional dedication through a very transformative and demanding period for our company,” Sullivan said in the announcement. “She worked around the clock to support our successful restructuring and emergence, helped us achieve our recent successful $460 million convertible note offering, and has played an instrumental role in positioning us for significant future growth”1. Sterling framed her own departure around what came before it. “It has been an honor to work alongside Adam and the team to help Core Scientific become the leading high-power digital-infrastructure operator it is today,” she said.
Before and after the announcement
Sterling planned to stay through the transition. “I am excited to continue building on our strong momentum in the coming months as we advance our high-performance computing hosting strategy and other key strategic initiatives,” she said in the press release, adding that she would support the board's search for her successor1. citybiz reported the same announcement on Sept. 6, 2024. The outlet's version confirmed the search process and the company's $460 million convertible note offering as the financial backdrop to her exit2. Sullivan called her finance team "outstanding." He said the board was "grateful to benefit from her continued leadership" during the handoff.
What came next
A new voice spoke for Core Scientific's finances on July 28, 2026. Jim Nygaard spoke as chief financial officer on that earnings call, 15 months after Sterling's planned departure date of May 1, 20253. Nygaard told analysts how far the company's finances had moved from bitcoin mining. “It is quite a transformation from our history of Bitcoin mining, which is certainly characteristic of a lot of volatility and lack of transparency to essentially a financial profile that is essentially opposite of that,” Nygaard said. He described colocation contracts with CoreWeave that drove second-quarter colocation revenue to $137 million.
Sources
- Core Scientific, Inc., "Core Scientific Announces CFO Transition Plan," Sept. 6, 2024, https://investors.corescientific.com/news-events/press-releases/detail/92/core-scientific-announces-cfo-transition-plan
- citybiz, "Core Scientific CFO Denise Sterling to Retire," Sept. 6, 2024, https://www.citybiz.co/article/597454/core-scientific-cfo-denise-sterling-to-retire/
- Investing.com, "Earnings call transcript: Core Scientific posts strong Q2 2026 ramp, shares fall," July 28, 2026, https://news.google.com/rss/articles/CBMizwFBVV95cUxPMnpVYUgwX0lnWlMyUVJUTHQ5S2FxU0U1ZEhmaVNrLTRBN1Q5bnFaQnhUMkhHS20xbEk3d1plaGxYQVF2THBLS1p0X1Y1NDhtSkhoMmdnSmwxdEVGN0NWU2FSZmVqcV9CbFZYUGZSZUs3cjdmYmxCMVFxSnA5amNlZFZCVjlaRWp1UzNzazZuLThOZ0VLZVBiYWlzd2YtMzZPMHZnamJiZFZqMGNXOFBOZzcxbVk0RzFzT3dlVVhSZG9sWDEya0tDM3E0M0ZOdHM?oc=5