Core Scientific plans to shut down Bitcoin mining despite Q3 revenue hitting $233M

Core Scientific, once the largest Bitcoin [BTC] miner, has released its Q3 2026 report, but at the same time it has also announced its plans to completely exit Bitcoin mining by the end of 2026. During its Q3 2026 earnings call, Chief Financial Officer Jim Nygaard said the company expects to complete the mining wind-down in the fourth quarter and enter 2027 as a high-density colocation provider. This decision came as the firm’s Q3 results were primarily driven by the expansion of its high-density colocation (HDC) business, which supports AI and high-performance computing (HPC) workloads. Core Scientific's AI shift Remarking on the same, CEO Adam Sullivan said, We are nearing full delivery under our first colocation agreement while construction under our second is underway across five campuses.

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