Core Scientific to Exit Bitcoin Mining by Year-End

TechFlow reported on Nov. 6 that, according to CoinPost, U.S. data center operator Core Scientific said at its Q3 earnings briefing on Nov. 5 that it will complete its exit from Bitcoin mining by year-end. CFO Jim Nygaard said the company will focus exclusively on data center equipment leasing (high-density colocation) in 2027. Financial disclosures showed Q3 equipment leasing revenue rose nearly 60% quarter-over-quarter to $215.4 million, accounting for about 92% of total revenue of $232.9 million; proprietary Bitcoin mining revenue was $12.3 million, down about 79% from $57.4 million in the same period last year, with a gross loss of $7.5 million.

Source: TechFlow