Core Scientific plans to exit Bitcoin mining by the end of 2026

The former mining giant will operate solely as an AI and high-performance computing colocation provider starting in 2027 Core Scientific is getting out of the Bitcoin mining business. The Nasdaq-listed company plans to fully exit self-mining by the end of the fourth quarter of 2026. Starting in 2027, it intends to operate purely as a high-density colocation provider for high-performance computing and AI workloads. The company disclosed the plan in its third-quarter 2026 earnings report, released on November 5, 2026. The timeline is specific: self-mining ends by December 31, 2026, and hosted mining for third parties is winding down as well. The numbers behind the pivot Colocation revenue reached $215.4 million in Q3 2026, up nearly 60% from the prior quarter. Self-mining went the other way. Revenue from that segment fell to $12.3 million in the quarter, a 79% drop compared with a year earlier. The mining operation also posted a gross loss for the quarter. Meanwhile, colocation is running at a 57% adjusted EBITDA margin. The shrinkage has been deliberate. Core Scientific’s mining fleet has been cut by nearly 50% since the end of 2025, as the company moved power and floor space over t...