Core Scientific stops mining! 1.5GW Texas facility pivots to AI data center, $4 billion investment to expand plants across four states

ORIGINALCore Scientific 不挖礦了！1.5GW 德州礦場轉型 AI 資料中心，砸 40 億鎂擴建四州廠房

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Bitcoin miner Core Scientific announced the transformation of its mining facility in Pecos, Texas, into a high-density AI colocation data center, with a planned total capacity of 1.5GW, of which approximately 1GW will be available for external leasing. The company has raised over $4 billion to advance expansion projects across Texas, Georgia, North Carolina, and Oklahoma. (Context: GPU shortage repeats: Cloud providers tighten supply, AI startups face 32% price hike for chip rentals with waitlists extending to year-end) (Background: NVIDIA stock hits all-time high with market cap exceeding $5 trillion: $5 billion investment in Intel more than triples in less than a year) Core Scientific announced that it will fully transform its Bitcoin mining facility in Pecos, Texas, into a high-density AI colocation data center. The planned total power capacity is 1.5GW, with approximately 1GW available for lease to AI computing clients. As the first step of this transformation, approximately 300MW of existing mining capacity at the site will be reallocated to data center operations, expected to be operational by early 2027. This signifies that Core Scientific is shifting its identity from a "Bitcoin miner" to an "AI computing cloud provider." $4 Billion AI Expansion To support this transition, Core Scientific has acquired over 200 acres of land in Pecos and secured funding through two financing rounds, including the issuance of $3.3 billion in secured notes, combined with a previously obtained $1 billion credit facility from Morgan Stanley, totaling over $4 billion in capital. These funds will not only be used in Texas; Core Scientific plans to simultaneously advance data center construction in Georgia, North Carolina, and Oklahoma, following a "multi-state distributed expansion" strategy. From an industry perspective, this is the latest example of Bitcoin miners pivoting to AI infrastructure. Mining sites inherently possess large-scale power infrastructure, cooling systems, and the advantage of remote locations, which perfectly align with the high-density power demands of AI training clusters. As GPU shortages drive cloud rental prices up by over 32%, mining sites with 1.5GW of ready-to-use power capacity have suddenly become highly attractive.

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