Core Scientific to Exit Bitcoin Mining by 2027 as AI Data Center Business Takes Over
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Core Scientific said it will exit Bitcoin mining by 2027 and pivot fully to AI data-center colocation after its colocation revenue reached $215.4 million in the third quarter. The shift marks a strategic re-rating of the company away from volatile mining economics toward contracted hosting cash flows tied to AI compute demand. The move reflects a broader trend of miners repurposing power capacity and infrastructure for AI tenants as margins compress post-halving. Investors will watch colocation revenue growth, contract signings and the pace of mining wind-down for confirmation of the transition.
Muhabbit's AI wrote this summary in its own words from CryptoPotato's report. It can get details wrong, so check the source.
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