Core Scientific expects to exit Bitcoin mining by the end of 2026 and transition into a pure high-density hosting service provider by 2027

Odaily reports: Digital infrastructure company Core Scientific is expected to complete its exit from the Bitcoin mining business in the fourth quarter of 2026 and transition into a pure high-density hosting service provider in 2027. Chief Financial Officer Jim Nygaard said on the third-quarter earnings call that the company expects to complete the wind-down of the business in the fourth quarter.

In the third quarter, Core Scientific's Bitcoin mining business generated a total of $17.5 million in revenue, accounting for 7.5% of total revenue of $232.9 million; of this, self-mining revenue was $12.3 million, hosted mining revenue was $5.2 million, and hosting service revenue was $215.4 million.

As of the end of September, the number of Core Scientific's online mining machines had decreased by nearly 50% compared with the end of 2025. (Cointelegraph)