[Wu Blockchain News] Core Scientific, Once the Largest Bitcoin Miner, Plans to Fully Shut Down Bitcoin Mining by Q4 2026
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Core Scientific said during its Q3 earnings call that it will fully shut down its proprietary Bitcoin mining business by Q4 2026 and operate solely as a high-performance computing colocation provider from 2027, with active miners on its network already down nearly 50% from the end of 2025. The pivot is being driven by colocation economics: Q3 colocation revenue reached $215 million, up almost 60% quarter-over-quarter, while EBITDA margin widened to 57%. The move marks a strategic exit from mining for a company that was once the world's largest Bitcoin miner, shifting its revenue base toward hosting HPC and AI infrastructure. Investors will be watching how quickly remaining mining capacity is wound down, whether colocation growth sustains its current pace, and how the transition affects Core Scientific's contracts and capital allocation as it competes for HPC tenants.
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