Core Scientific to Exit Bitcoin Mining by Year-End

on November 6, according to CoinPost, US data center operator Core Scientific stated at its third-quarter earnings call on November 5 that it will complete its exit from the Bitcoin mining business by the end of the year. Chief Financial Officer Jim Nygaard said that by 2027, the company will operate exclusively in data center equipment leasing (high-density colocation). The financial report shows that equipment leasing revenue for the third quarter grew nearly 60% quarter-over-quarter to $215.4 million, accounting for approximately 92% of total revenue of $232.9 million; self-operated Bitcoin mining revenue was $12.3 million, down approximately 79% from $57.4 million in the same period last year, with a gross loss of $7.5 million.