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Corporate Score 55 Bullish

Core Scientific Pivots to AI Infrastructure with 1.5GW Texas Campus

Apr 28, 2026 09:45 UTC
CORZ
Long term

Bitcoin miner Core Scientific is repurposing its Texas operations into a massive AI colocation hub. The company plans to scale its Pecos site to 1.5 gigawatts of power capacity to meet surging demand for AI computing.

  • Scaling Pecos, Texas site to 1.5GW gross power capacity
  • 1GW of capacity designated for AI leasing
  • Raising $3.3 billion in senior secured notes for multi-state expansion
  • Repurposing 300MW of Bitcoin mining capacity
  • Initial operational capacity expected in early 2027
  • Acquisition of 200+ acres of land for infrastructure

Core Scientific is aggressively diversifying its business model, converting its Pecos, Texas, facility into a high-density AI colocation hub. The company intends to scale the site to a gross power capacity of 1.5 gigawatts, with approximately 1 gigawatt earmarked for leasing to support AI workloads. This strategic shift comes as Bitcoin mining margins tighten, prompting several industry peers—including MARA Holdings, TeraWulf, and Hut 8—to repurpose energy-intensive mining sites into high-performance computing (HPC) centers. As part of this transition, Core Scientific is repurposing 300 megawatts of existing mining capacity for data center operations. To fund the expansion across Texas, Georgia, North Carolina, and Oklahoma, the company is raising $3.3 billion through senior secured notes due 2031. This follows a $1 billion credit facility secured from Morgan Stanley in March. To support the physical buildout, the company has acquired more than 200 acres of land in the Pecos area. Foundational work on the first data hall is already complete, with vertical construction now underway. Initial capacity is expected to come online in early 2027. The move underscores a growing trend where the power-dense infrastructure developed for cryptocurrency mining is being leveraged as the backbone for the artificial intelligence revolution.

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