Core Scientific Ditches Bitcoin Mining for $164.2M AI Hosting Business

Core Scientific, Inc. (Nasdaq: CORZ) has announced that it is shifting its focus from bitcoin mining to AI hosting, a significant change in strategy for the company. The move comes as the company reports $164.2 million in revenue from AI hosting services during the quarter ending June 30, 2026.

According to the quarterly report filed with the SEC, Core Scientific has seen a decline in revenue from bitcoin mining due to market fluctuations and increased competition. In contrast, the company's AI hosting business has shown strong growth, with revenues increasing by over 50% year-over-year.

The company's decision to pivot towards AI hosting is likely driven by the growing demand for cloud computing services and the potential for significant revenue growth in this sector. Core Scientific will continue to operate its existing data centers but will focus on providing high-performance computing capabilities to AI and machine learning customers.