Core Scientific Plans to Shut Down Bitcoin Mining Before 2027 and Run Only as an AI Data Center Host

One of the best known names in crypto mining is about to leave the business behind. Core Scientific says it will finish winding down its mining operations during the fourth quarter, so it can start 2027 focused entirely on high density colocation for AI and high performance computing. Chief financial officer Jim Nygaard gave the timeline on Thursday’s earnings call.

Core Scientific Q3 Revenue Shows the Shift

Mining brought in only $17.5 million, or 7.5%, of the company’s $232.9 million in third quarter revenue, while colocation contributed $215.4 million. Self mining revenue dropped to $12.3 million from $57.4 million a year earlier, and income from hosting other miners fell to $5.2 million from $8.7 million. Nygaard said the number of miners online in September was nearly half the level at the end of 2025.

How the AI Pivot Developed

The change began with a hosting deal with CoreWeave in 2024, first pitched as an addition to mining. By December 2025, a newspaper report said the company aimed to end mining by 2028. Pressure from weak prices and low hashprice led to $266.5 million in impairments in the first quarter of 2026, and a $41.9 million loss came when it ended an equipment agreement with Block and Proto.

Political Risk Hangs Over Data Center Expansion

The exit comes as the midterm results raise new questions for AI infrastructure. Reuters reported that data center opponents were among the winners, with voter anger focused on electricity bills and the strain large sites place on local resources.