Core Scientific 530MW contract… includes reservation rights for up to 2.5GW

Core Scientific disclosed in its Q3 Form 10-Q that its binding data center lease contracts total 530MW, not the up to 2.5GW headline figure, which includes 1,925MW of reservation rights that have not converted into binding leases. The July 27 agreements comprise 377MW of critical IT capacity for AMD and 152MW for an undisclosed neocloud operator, each running 15 years with three five-year extension options. The distinction matters because investors may be capitalizing the larger 2.5GW pipeline as contracted revenue when only the 530MW is legally committed. Watch for conversion of the reservation rights into binding leases and any further disclosures on tenant identity and timing.