Core Scientific Secures 2.5 GW AI Deal with AMD, Shifts Away from Bitcoin Mining

Core Scientific has signed a 15‑year 529 MW contract with AMD, positioning itself for a 2.5 GW AI capacity while strategically exiting bitcoin mining.

Billions‑Long Agreement: Core Scientific’s AI Upswing

■$14 billion base contracted revenue potential

■Customer deployments slated for 2027 under AMD

■Additional 1,925 MW reservation rights, potentially expanding to 2.5 GW

■Total 1.1 GW leased capacity, $24 billion potential revenue

Financial Footprint of the Bitcoin Exit

■$136.7 million mining revenue, 83% of Q2 total $164.2 million revenue

■Self‑mining revenue fell 66% to $21.5 million

■$41.9 million charge for terminating a Block 3‑nanometer chip purchase

■Holding 848 BTC worth $49.7 million, sold 2,385 BTC for $208.2 million

AMD’s 2.5 GW Expansion: Operational Highlights

■377 MW directly leased across Texas and Oklahoma sites

■Additional 152 MW leased in Alabama and Georgia

■Collaboration on AMD Instinct GPUs, EPYC processors, and ROCm software

Market Reactions: Stock Movements for Core Scientific and AMD

■CORZ shares up 5.6% pre‑market

■AMD shares down 4% amid broader chip sell‑off

■Binance retained 55% of user funds and 24% of spot, generating net inflows

Crypto Portfolio and Sale Strategy

■$49.7 million worth of 848 BTC retained

■Sold 2,385 BTC in Q1 for $208.2 million

■Liquidity management driven by BTC price swings and market demand

Core Scientific’s move aligns high‑energy AI demand with declining mining profitability and ESG pressures. The long‑term deal diversifies revenue streams, while AMD’s 2.5 GW plan underscores the growing importance of AI infrastructure. For crypto markets, the shift repositions BTC’s role within the company’s portfolio and intensifies competition in the data‑center sector.