Core Scientific said it expects to end Bitcoin mining by the end of 2026 as it shifts toward AI and high-performance computing infrastructure. Chief financial officer Jim Nygaard said the company expects to finish winding down mining in the fourth quarter and enter 2027 as a colocation provider. This is a target, not a completed exit; the company had previously said hosted mining would end by Dec. 31 while it continued to wind down its own mining.
Bitcoin mining brought in $17.5 million, or 7.5%, of Core Scientific’s $232.9 million in third-quarter revenue, compared with $215.4 million from colocation services. Nygaard said the company had nearly 50% fewer miners online at the end of September than at the end of 2025.
