Core Scientific to quit Bitcoin mining by year-end as AI business surges
Summary
Core Scientific plans to complete its Bitcoin mining wind-down in the fourth quarter of 2026 and enter 2027 focused exclusively on high-density colocation for AI and high-performance computing. Mining accounted for $17.5 million, or 7.5%, of its $232.9 million in third-quarter revenue, while colocation generated $215.4 million. The company’s mining business has contracted amid weak mining economics, including $266.5 million in first-quarter impairments and a $41.9 million loss from ending an equipment agreement. Its AI infrastructure expansion faces potential local opposition over data centers’ electricity use and resource demands.
