Bitcoin mining firm Core Scientific pivots to AI data centers, advancing 1.5GW data center project

Odaily Planet Daily reports that Bitcoin mining company Core Scientific has announced its plan to transform its Pecos, Texas mining site into a high-density AI colocation data center with a total planned power capacity of 1.5GW, of which approximately 1GW will be available for external leasing. As part of this transition, about 300MW of the site's mining capacity will be reallocated to data center operations. The first data hall has completed foundation work and entered the main construction phase, with an expected launch in early 2027.

To support this expansion plan, the company has acquired over 200 acres of land in the area and intends to raise over $4 billion in total—through a $3.3 billion senior secured note offering and a previously secured $1 billion credit facility from Morgan Stanley—to advance data center construction in Texas, Georgia, North Carolina, and Oklahoma. (Cointelegraph)