Update
Core Scientific to Transition to AI Data Center Business
Core Scientific, a Bitcoin mining company, plans to cease Bitcoin mining operations by December 2026 and transition to a high-density colocation provider focused on AI and HPC. Colocation revenue surged 58% quarter-on-quarter to $215.4 million in Q3, contributing to a total revenue increase of 42% to $232.9 million. The company attributes this to intensifying competition among Bitcoin miners and profitability pressures due to declining revenues and rising costs in traditional mining operations.