The former bitcoin mining heavyweight will transition exclusively into a high-performance computing provider by 2027, phasing out its proprietary mining operations entirely by the end of 2026. Core Scientific has already reduced its network of active miners by nearly 50% since late 2025 to accelerate the company’s shift toward AI data center colocation services.

The strategic pivot follows a steep decline in the company’s mining earnings, with self-mining revenue falling 79% year over year to $12.3M in the third quarter and producing a $7.5M gross loss. During the same period, Core Scientific’s colocation business brought in $215.4M, accounting for roughly 93% of total quarterly revenue as the firm expands its capacity across five campuses.