Core Scientific's AI Revival Hits $24B Revenue Milestone

Core Scientific, formerly a bankrupt Bitcoin miner, has successfully transitioned into an AI data center infrastructure provider. The company reported that it leased approximately 1.1 gigawatts of power capacity to customers in Q2 2026, representing potential revenue of over $24 billion under long-term contracts.

The transformation was accelerated during the second quarter of this year and has been supported by signed agreements with CoreWeave and companies deploying AMD technology. However, it's essential to note that the $24 billion figure is not guaranteed profit or cash received but represents potential revenue spread across contracts lasting up to 15 years.

The company must still construct facilities, deliver capacity on schedule, and keep customers operating under those agreements. Core Scientific has preserved its power assets through bankruptcy and has retained 724 megawatts of operating capacity across five U.S. states.