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Market Incident

Public · Developing

AI compiled from Infoway · 6 analyzed stories

Core Scientific plans to exit Bitcoin mining by the end of 2026

Core Scientific plans to end its self-mining of Bitcoin by December 31, 2026, and is also winding down hosted mining for third parties. From 2027, it intends to focus on colocation services for high-performance computing and AI workloads, as colocation revenue grows and mining revenue falls.

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Updated:

What happened

Core Scientific plans to stop Bitcoin mining by December 31, 2026, including mining it does for itself and for other companies. It expects to finish winding down in the fourth quarter and focus on data-center space and services for AI and high-performance computing from 2027.

Global impact / market context

The change shifts the company away from Bitcoin mining and toward data-center services. Colocation brought in most of its reported third-quarter revenue, while mining brought in $17.5 million, or 7.5%. The company sold 816 BTC to cover investment and other cash needs, and held 32 BTC at September 30.

What to watch

  1. Check whether Core Scientific completes its planned mining wind-down in the fourth quarter of 2026; delays would change the timing of the shift.
  2. Check how much revenue colocation brings in compared with mining; this shows whether the new focus is taking hold.
  3. Check how many BTC the company holds after selling 816 BTC and reporting 32 BTC at September 30; this shows how much Bitcoin remains on its balance sheet.

Affected assets

  • BTCUSDT
  • CORZ

Evidence