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Core Scientific to Exit Bitcoin Mining by 2027 as AI Data Center Business Takes Over

By Chayanika Deka

Core Scientific's colocation revenue hit $215.4 million in Q3, as it continues to strengthen its AI ambitions ahead of its planned Bitcoin mining exit.

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Artificial intelligence

Computer systems that perform tasks that normally require human intelligence, such as understanding language, recognising images or making decisions.

AI is changing work, media and public services, raising questions about jobs, safety and regulation.

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Bitcoin

The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.

Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.

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Data centre

A facility that houses large numbers of servers and networking equipment to store and process data.

Data centres use large amounts of electricity and water, which makes their location a local and climate issue.

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Revenue

The total money a company earns from selling goods or services before any costs are subtracted.

Revenue growth shows demand for a company's products; profit shows whether it earns money from them.

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