Core Scientific Turns Off Its Last Bitcoin Miners for AI

Core Scientific plans to finish shutting down its Bitcoin mining fleet before the end of 2026. Leasing data center capacity to AI customers now generates almost all of the company’s revenue. The company sold nearly its entire Bitcoin reserve this year to help pay for construction. One customer still accounts for most of the revenue, so concentration risk remains high. Core Scientific (NASDAQ: CORZ), which emerged from bankruptcy in January 2024 as one of North America’s largest listed Bitcoin miners, told investors on November 5 that it will switch off its remaining machines during the fourth quarter and enter 2027…