Core Scientific records $41.9 million loss, terminates BTC mining chip procurement contract with Block

Odaily Planet Daily News Data center operator Core Scientific has terminated its BTC mining chip procurement contract with Jack Dorsey's Block, incurring a loss of $41.9 million. Core Scientific had previously paid Block an advance payment of $67.9 million, including $10 million in July 2024, $21.3 million in January 2025, and $36.6 million in January 2026. Following the termination, remaining delivery obligations are canceled, and the advance payments already made constitute a loss. The day before the termination, Core Scientific signed a 15-year lease with AMD covering 529 megawatts, which is expected to generate over $14 billion in contract revenue.