Core Scientific Plans 1.5 GW AI Data Center in Pecos

Core Scientific, a leading bitcoin mining company, announced plans to convert its Pecos, Texas, facility into a 1.5-gigawatt data center campus focused on artificial intelligence and high-performance computing workloads. The expansion, detailed in a recent company statement, includes 1 gigawatt of capacity available for leasing to third parties, with initial operations expected to begin in early 2027.

The project repurposes about 300 megawatts previously dedicated to bitcoin mining at the site, reflecting the company's shift toward more stable revenue from AI infrastructure amid tightening mining margins due to rising energy costs. Core Scientific has acquired more than 200 acres of adjacent land and secured an additional 300 megawatts of power through a new utility contract, including behind-the-meter solutions for further growth. Construction on the first data hall is advancing, with foundational work completed and vertical building underway.

To fund the Pecos development and expansions in Georgia, North Carolina, and Oklahoma, Core Scientific plans to raise $3.3 billion through senior secured notes due in 2031. This follows a $1 billion credit facility from Morgan Stanley...