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

April 28 — U.S.-based Bitcoin miner Core Scientific said it will upgrade its Pecos, Texas, mining facility into an AI-focused high-density data center campus, targeting 1.5GW of total power capacity—with roughly 1GW available for external leasing. The company noted 300MW of power previously used for Bitcoin mining has been reallocated to AI data center operations. Its first facility has completed basic construction, with initial computing capacity expected to go online in early 2027. Core Scientific also secured an additional 300MW power contract and plans further expansion via a behind-the-meter power supply arrangement. To support construction, it has acquired over 200 acres of local land. Last week, the firm announced plans to issue $3.3 billion in senior secured notes due 2031 to fund data center expansions across Texas, Georgia, North Carolina, and Oklahoma. In March, it also secured a $1 billion credit facility from Morgan Stanley. As Bitcoin mining profitability faces pressure, more miners are shifting to AI infrastructure. MARA Holdings previously acquired a 64% stake in French infrastructure firm Exaion to enter the AI services market; Hut 8, TeraWulf, Hive Digital Technologies, and other miners are also converting mining facilities to AI data centers.