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Core Scientific is accelerating the phase-out of its proprietary Bitcoin mining operations, with a full shutdown planned for Q4 2026. The company said on its Q3 earnings call that its active miner count had fallen nearly 50% from the end of 2025.
Why it matters
Once the world's largest Bitcoin miner, Core Scientific plans to operate solely as a high-performance computing colocation provider starting in 2027. The shift moves the company away from mining Bitcoin for its own account and toward hosting computing infrastructure.
Market impact
Colocation revenue reached $215 million in Q3, up nearly 60% from the previous quarter, while the company's EBITDA margin expanded to 57%. Those figures frame the business Core Scientific intends to focus on after its mining exit.
Frequently asked questions
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What will Core Scientific focus on after leaving Bitcoin mining?
Core Scientific plans to operate solely as a high-performance computing colocation provider starting in 2027.
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How much did Core Scientific's active miner count decline?
The company said its active miner count fell nearly 50% compared with the end of 2025.
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How much colocation revenue did Core Scientific report in Q3?
Core Scientific reported $215 million in colocation revenue in Q3, up nearly 60% from the previous quarter.
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What happened to Core Scientific's EBITDA margin?
The company's EBITDA margin expanded to 57% in Q3.
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When did Core Scientific disclose its accelerated mining phase-out?
The company announced the accelerated phase-out during its Q3 earnings call.
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