Core Scientific to exit Bitcoin mining by year-end as AI data center business expands

Source Summary

Core Scientific plans to cease Bitcoin mining operations by year-end and transition to a pure-play data center provider by 2027. Mining currently represents just 7.5% of the company's quarterly revenue, reflecting a strategic shift toward AI infrastructure services.

Why it matters

The shift reflects a major reallocation of computing resources from cryptocurrency mining to AI infrastructure, signaling market demand for data center capacity supporting artificial intelligence applications.

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• Cointelegraph ↗