Core Scientific targets end to Bitcoin mining by 2026

Core Scientific plans to end its Bitcoin mining operations by the close of 2026 and enter 2027 as a colocation provider focused on artificial intelligence and high-performance computing, Chief Financial Officer Jim Nygaard said during the company’s third-quarter earnings call. The timetable is a management target, not confirmation that the winddown is complete. The company’s third-quarter results show mining has become a small part of its business. Core Scientific reported $232.9 million in revenue for the quarter, including $215.4 million from colocation services and $17.5 million from Bitcoin mining, or about 7.5% of the total. Self-mining revenue was $12.3 million, down from $57.4 million in the same quarter a year earlier. Revenue from hosting other miners fell to $5.2 million from $8.7 million. Nygaard said the company had nearly 50 fewer miners online at the end of September than at the end of 2025. Core Scientific had previously said in a July quarterly filing that it would end hosted mining for third parties by December 31. Nygaard’s remarks set the same fourth-quarter target for completing the broader mining winddown, including the company’s own operations. The...