Core Scientific (CORZ) to Exit Bitcoin Mining by Year-End as Colocation Hits $215 Million
Core Scientific will finish winding down bitcoin mining in the fourth quarter and enter 2027 as a pure-play AI colocation landlord, with self-mining revenue already down to $12.
Micah ZimmermanBitcoin Magazine · November 5, 2026 · 1h agoBrief · 1 min read
Core Scientific plans to finish exiting bitcoin mining by year-end and operate as a pure colocation provider from 2027, management said on its third-quarter earnings call. CFO Jim Nygaard said the wind-down should finish during the fourth quarter. Colocation revenue rose nearly 60 percent from the prior quarter to $215.4 million, while self-mining revenue fell to $12.3 million, according to results filed with the SEC. Colocation now accounts for about 92 percent of $232.9 million in total revenue. Bitcoin holdings dropped to $2.7 million from $222 million at year-end 2025. The mining fleet has shrunk by nearly half since year-end 2025, and the company is billing for about 485 megawatts of colocation capacity.
Why it matters: It shows a public bitcoin miner shifting its business toward hosting AI and high-performance computing workloads, a path peers are also following.
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