Core Scientific Bets Big on AI: Transforming 300MW Bitcoin Mining Facility into AI Data Center, Aims to Expand to 1.5GW

BlockBeats News, April 28th, Core Scientific, a U.S.-based Bitcoin mining company, announced that it will upgrade its mining facility in Pecos, Texas, to an AI-focused high-density data center campus, with a total power capacity target of 1.5GW, of which around 1GW will be available for external leasing.

Core Scientific stated that about 300MW of power, originally used for Bitcoin mining, has been reallocated to AI data center operations. The first data center facility has completed its basic construction, and the initial computing power capacity is expected to go online in early 2027.

At the same time, the company has secured an additional 300MW power contract and plans to further expand through a behind-the-meter power supply arrangement. To support the construction, Core Scientific has acquired an additional 200+ acres of land locally.

Furthermore, Core Scientific announced last week its intention to issue $3.3 billion of senior secured notes due in 2031 to fund the expansion of its data centers located in Texas, Georgia, North Carolina, and Oklahoma. In March of this year, the company also obtained a $1 billion credit facility from Morgan Stanley.

With Bitcoin mining profitability under pressure, an increasing number of mining companies are transitioning to AI infrastructure. Previously, MARA Holdings acquired a 64% stake in the French infrastructure company Exaion to enter the AI services market; Hut 8, TeraWulf, Hive Digital Technologies, and other mining companies are also converting their mining facilities into AI data centers.