🚨 Core Scientific is exiting Bitcoin mining for good—and pivoting to AI!

📊 The official decision:

• The company will stop mining completely by the end of 2026

• Starting in 2027: exclusively an AI data hosting company

• Mining revenue fell to $12.3 million (just 5%)

━━━━━━━━━━━━━━━

📉 Why this decision?

✅ Mining economics have become extremely challenging (Bitcoin production cost: ~$88,000)

✅ Leasing electricity and space to AI companies generates 4 times the returns

✅ Major contracts with CoreWeave and AMD (1.1 gigawatts)

✅ Hosting revenue surged to $215.4 million (92% of revenue)

📊 What does this mean?

⚠️ A major mining company is leaving Bitcoin

✅ But this doesn't mean the end of mining—other companies are still operating

📊 The shift to AI is the new trend in the energy and data sectors

💡 What does this mean for traders?

✅ No direct impact on Bitcoin's price

⚠️ But it confirms that mining economics have become challenging

📊 Keep an eye on other mining companies—they may do the same

📊 The numbers that prove the shift

This shift isn't just talk—it's already happening in the financials:

  • AI hosting revenue: surged to $215.4 million in the third quarter, representing 92% of the company's total revenue ($232.9 million).

  • Mining revenue: fell to just $12.3 million (only 5% of revenue), compared with $57.4 million in the same period last year.

  • Mining fleet: the company has reduced the number of active mining machines by around 50% since the end of 2025.

  • Losses: the self-mining segment posted a total loss of $7.5 million, while the hosting segment posted a total profit of $128.4 million (60% profit margin).

💡 Why did the company do this?

The main reason is economics. After the 2024 Bitcoin halving, the cost of producing Bitcoin became very high (around $88,000 per coin), and if the price is below $80,000, miners lose money. By contrast, leasing the same space and electricity to AI companies generates much higher returns ($7.9 million per megawatt over 5 years for AI, compared with $1.9 million for Bitcoin).

🎯 Who benefits from the transition?

The company has signed major contracts with CoreWeave (590 megawatts) and AMD (530 megawatts), for a total contracted capacity of 1.1 gigawatts. Once fully operational, they are expected to generate $1.8 billion in annual revenue and $1.6 billion in net operating income.

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