Core Scientific Plans to Exit Bitcoin Mining by End of 2026…
By Karthik Subramanian
AI summary of the source article
Core Scientific plans to shut down its remaining cryptocurrency mining operations by the end of 2026. The company intends to begin 2027 operating exclusively as a high-density colocation provider focused on artificial intelligence and high-performance computing infrastructure.
Why it matters
"Long-term colocation contracts can provide more predictable revenue than Bitcoin mining, where profitability depends on cryptocurrency prices, network difficulty and electricity costs."
Key facts
- Core Scientific plans to complete its mining wind-down during Q4 2026 to become an exclusive high-density colocation provider in 2027.
- High-density colocation generated $215.4 million, or about 92.5% of the company's $232.9 million in third-quarter revenue.
- Core Scientific reduced its Bitcoin holdings from 2,537 BTC at the end of 2025 to 32 BTC on September 30.
Source excerpt · FinanceFeeds
Core Scientific, once among the world's largest publicly traded Bitcoin miners, plans to shut down its remaining cryptocurrency mining operations by the end of 2026 as it accelerates its transition toward artificial intelligence and high-performance computing infrastructure. The Nasdaq-listed company, trading under the ticker CORZ, confirmed the timeline during its third-quarter earnings call on N…