Core Scientific to Exit Bitcoin Mining by Year-End and Become a Pure-Play AI Data Center Provider

What happened

Core Scientific said it plans to end Bitcoin mining by year-end and become a high-density data center provider focused on AI and high-performance computing. Its chief financial officer said the company expects to finish winding down mining in the fourth quarter and enter 2027 in that new role.

Confirmed

Global impact / market context

The shift redirects power and data center space from Bitcoin mining toward hosting computing equipment. Mining revenue was a small and declining share of third-quarter sales, while colocation revenue was much larger and had grown sharply year over year, making the new business central to the company’s revenue mix.

Analyst inference

The article describes Core Scientific reallocating capacity toward AI and high-performance computing, including data center capacity provided to CoreWeave. This points to a change in how the company uses its facilities; its results will depend more on colocation income and less on Bitcoin mining revenue.

Analyst inference

What to watch

1. Check whether Core Scientific completes the mining wind-down in the fourth quarter and enters 2027 as a high-density colocation provider, as its chief financial officer expects. Confirmed
2. Track whether colocation revenue continues to grow and whether its share of sales increases, since that income is becoming more important as Bitcoin mining ends. Analyst inference
3. Watch for further details on the company’s data center arrangements, including the mentioned 15-year leasing arrangement, because contract terms could clarify future revenue commitments. Confirmed

Affected assets

• BTC — Bitcoin

Evidence

• Original source link unavailable