Business · The Register
The crypto-to-AI bandwagon jumpers' club just landed another member: Core Scientific
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Core Scientific is trading coins for tokens, revealing plans on Monday to convert a 300-megawatt bitcoin mining operation in Pecos, Texas, to an 1.5 gigawatt AI datacenter campus.
Key facts
- Core Scientific is trading coins for tokens, revealing plans on Monday to convert a 300-megawatt bitcoin mining operation in Pecos, Texas, to an 1.5 gigawatt AI datacenter campus
- Core Scientific is one of several companies racing to switch from crypto mining to token farming before the bubble bursts, and recently announced plans to sell $3.3 billion of junk bonds to help
- Core Scientific says that it's already secured an additional 300 megawatts of power from the local utility and plans to supplement that with some kind of "scalable behind-the-meter solution
- The bitcoin miner turned AI bit barn builder began construction of the new facility earlier this year, with the first new data hall expected to come online in early 2027
Summary
Core Scientific is one of several companies racing to switch from crypto mining to token farming before the bubble bursts, and recently announced plans to sell $3.3 billion of junk bonds to help facilitate the move. The bitcoin miner turned AI bit barn builder began construction of the new facility earlier this year, with the first new data hall expected to come online in early 2027. When complete, Core Scientific estimates that the facility will offer about a gigawatt of leasable capacity, roughly the equivalent to the output of a large nuclear reactor. Core Scientific says that it's already secured an additional 300 megawatts of power from the local utility and plans to supplement that with some kind of "scalable behind-the-meter solution.