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Techub News, according to crypto.news, Core Scientific reported its Q1 2026 financial results, with revenue of $115.2 million, up 45% year-over-year, but a net loss of $347.2 million, primarily due to non-cash impairment charges. The company's CEO stated that it differentiates its business through capital reserves and rapid delivery capabilities. The company is accelerating its transition from Bitcoin mining to AI infrastructure, with hosting service revenue rising to $77.5 million and self-mining revenue falling to $30.1 million. The company plans to convert its Pecos, Texas mining site into an AI data center and announced the acquisition of Polaris DS for approximately $421 million to expand its power capacity.
Techub News, according to CoinPost, mining company Core Scientific has announced the acquisition of Bitcoin mining firm Polaris DS for approximately $421 million, planning to convert its power infrastructure in Oklahoma into an AI data center. The acquisition is expected to be completed in the third quarter of 2026. Core Scientific is one of the largest Bitcoin mining companies in North America and was relisted on Nasdaq in January 2024. The acquisition is part of the company's comprehensive strategy to transition into the AI data center business, aiming to directly repurpose the 440MW power infrastructure originally used for Bitcoin mining for AI workloads, and to expand total capacity to 1.5 GW.
Techub News消息，据Blockonomi报道，Core Scientific宣布以4.21亿美元收购Polaris DS LLC，获得440兆瓦电力容量，以支持其人工智能基础设施建设计划。该公司目标是在俄克拉荷马州实现约1吉瓦的可租赁电力基础设施。 该公司正从比特币挖矿业务向高性能计算服务转型，此次收购的物业位于俄克拉荷马州，与其现有业务相邻。交易预计于2026年第三季度完成，届时将加速高密度计算基础设施的部署。
Techub News reports that Bitcoin mining company Core Scientific announced that JPMorgan Chase has added a new $500 million commitment through the expansion terms of its 364-day credit financing agreement, bringing the total size of the financing facility to $1 billion. Previously, Morgan Stanley had committed $500 million. The financing rate is the Secured Overnight Financing Rate (SOFR) plus 250 basis points (2.5%). The company plans to use the proceeds for general corporate purposes related to data center asset development, including equipment procurement, preliminary development, land acquisition, and new data center energy procurement.
Techub News reports that Core Scientific has announced the initial closing of a $500 million 364-day loan financing facility provided by Morgan Stanley. This financing includes an accordion feature that allows for an increase in the total commitment by up to $500 million, subject to customary terms and conditions, potentially bringing the total commitment to up to $1 billion. Core Scientific expects to use the proceeds from borrowings under this financing arrangement for general corporate purposes related to data center asset development, including but not limited to equipment purchase costs, pre-development costs, real estate acquisitions, and costs associated with securing and entering into additional energy procurement agreements for data centers.
Techub News reports, according to The Energy Mag, Bitcoin mining company Core Scientific stated in its annual report that it expects to sell all of its approximately 2,500 Bitcoin holdings in the first quarter of 2026 to enhance liquidity and provide capital expenditure for AI computing power hosting expansion. As of December 31, 2025, the company held 2,537 Bitcoin. The company emphasized that the specific timing and amount of the sale will be adjusted based on market conditions and liquidity needs. This move signifies its accelerated transition from pure mining to AI high-performance computing infrastructure.
Techub News, Bitcoin mining company Core Scientific released its fourth-quarter 2025 financial report, with total revenue of $79.8 million, a year-on-year decrease (compared to $94.9 million in the same period last year); Bitcoin mining business revenue dropped to $42.2 million (compared to $79.9 million in the same period last year); data center hosting service revenue increased to $31.3 million (compared to $8.5 million in the same period last year). The company stated that the growth in hosting services partially offset the decline in mining revenue, and the overall financial performance reflects industry transformation pressures and hash rate expansion.
Techub News, Core Scientific announced the termination of the merger plan with CoreWeave, effective immediately. Core Scientific will continue to operate as a public company, and its common stock will continue to be traded on NASDAQ under the ticker symbol CORZ. Previously, at the special meeting of Core Scientific shareholders, the company did not obtain the number of votes required to approve the previously announced merger agreement with CoreWeave.
Techub News reports, citing Cointelegraph, that Bitcoin miners are accelerating their transition into the AI infrastructure sector by repurposing mining facilities to cope with shrinking industry profits and seek more stable sources of revenue. Core Scientific is transforming its site in Pecos, Texas, into a 1.5 GW AI data center campus, reconfiguring 300 MW of original mining capacity and acquiring over 200 acres of land to support construction. Meanwhile, MARA Holdings has acquired a majority stake in the French AI infrastructure company Exaion, and mining firms such as Hive, Hut 8, TeraWulf, and Iren are also converting their facilities into AI data centers.
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