Core Scientific to Exit Bitcoin Mining by Year-End 2026, Pivoting to AI Data Centers
Core Scientific plans to stop Bitcoin mining by December 31, 2026, moving fully into high-density colocation in 2027, according to a TradingView summary.
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what happened
Core Scientific (CORZ) intends to halt Bitcoin mining before the end of 2026 and, starting in 2027, run its business entirely as high-density colocation, meaning leasing rack space for computing equipment. TradingView reports the plan.
Third-quarter 2026 revenue reached $232.9 million, up 187% from a year earlier. Colocation brought in $215.4 million, while mining added roughly $17.5 million. In the same quarter the company sold 816 BTC to cover capital expenditure and other cash requirements, and it had 32 BTC left as of September 30. Macquarie kept its Outperform rating on the stock but cut its price target from $38 to $25.
why it matters
Mining made up about 7.5% of quarterly revenue, so Core Scientific's results now depend far less on hashrate, network difficulty and the Bitcoin price than those of miners for whom mining is the main income source. For companies that keep mining, hashprice, electricity costs and sensitivity of revenue to the BTC price remain the key factors. The shift shows that leasing capacity for AI workloads can generate revenue that is not tied to the Bitcoin price.
market impact
CORZ shares and Bitcoin miners: exiting mining for data centers changes the company's business model
tags
instruments
sources
- Key facts: Plans 2026 Mining Exit; Q3 Revenue Up 187%; Sells 816 BTC — TradingView, 7 November 2026 at 08:00 UTC
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