Core Scientific, Inc. (CORZ), known for its digital infrastructure catering to high-performance computing and bitcoin mining, has appointed Jim Nygaard as its new chief financial officer effective from March 17. Nygaard brings almost 30 years of experience from previous roles at XMS Capital Partners and Morgan Stanley. According to a statement released on Monday, his extensive background in mergers and acquisitions, corporate finance, and capital markets is expected to enhance the company’s growth.

“Jim’s deep financial expertise and strategic mindset will be instrumental as we continue scaling operations and driving shareholder value,” said CEO Adam Sullivan.

Denise Sterling, the outgoing CFO who played a crucial role in guiding the company through a Chapter 11 restructuring and securing over $1 billion in capital, will stay on until May 1 to facilitate a smooth transition. The announcement regarding the transition plan was made on September 6.

This appointment comes shortly after Core Scientific disclosed plans for a $1.2 billion expansion of its data centers in collaboration with CoreWeave. Following the news, the stock is reported to have risen by 2% during pre-market trading.