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.
Its latest quarterly results show how far the business has shifted. Third-quarter self-mining revenue fell to $12.3 million from $57.4 million a year earlier, while revenue from hosting other miners dropped to $5.2 million from $8.7 million.
Bitcoin mining generated just $17.5…
