Core Scientific to quit Bitcoin mining by year-end as AI business surges

Core Scientific said it expects to exit Bitcoin mining by the end of 2026 as it shifts its business toward artificial intelligence and high-performance computing infrastructure.

“We expect to complete the wind-down during the fourth quarter and enter 2027 as a pure-play, high-density colocation provider,” said Core Scientific chief financial officer Jim Nygaard during a Q3 earnings call on Thursday.

Core Scientific had previously disclosed in a July quarterly filing that hosted mining would end by Dec. 31 as it continued to wind down its self-mining operations. The comment establishes a targeted completion date for its complete Bitcoin mining exit.