Core Scientific to exit Bitcoin mining by year end as colocation revenue surges
Core Scientific, a publicly traded digital infrastructure provider, plans to end its Bitcoin mining operations by the close of the year and will begin 2027 fully focused on high-density colocation services, company executives confirmed during the third-quarter earnings call. Chief Financial Officer Jim Nygaard told investors the company will complete the transition in the fourth quarter. Chief Executive Officer Adam Sullivan stated that Core Scientific expects to finish its exit from Bitcoin mining before the end of the year. This strategic shift has already resulted in a significant reduction in the company’s self-operated mining fleet.