Core Scientific to exit bitcoin mining by year-end as colocation revenue reaches $215M

Key facts

• Core Scientific said it plans to exit bitcoin mining by the end of the year.
• Core Scientific reported colocation revenue of $215 million.
• Core Scientific said it will shift its business toward hosting and colocation services.

Core Scientific said on November 5, 2026, that it plans to exit bitcoin mining by the end of the year and reported colocation revenue of $215 million. The company said it will shift its business toward hosting and colocation services for other computing customers.

The announcement marks a change in Core Scientific's business model, moving away from mining bitcoin itself and toward providing infrastructure for other companies. The company did not specify which customers it would host or how much revenue it expects from the colocation business.