Core Scientific Plans 1.5GW AI Data Center in Texas, Reclaims 300MW
Bitcoin miner Core Scientific plans to convert its Pecos, Texas site into a high-density AI colocation campus with up to 1.5GW gross power and about 1GW available for leasing. The company will repurpose roughly 300MW of existing Bitcoin mining capacity for data center operations, with early capacity targeted for early 2027. Core Scientific also secured an additional 300MW power contract and outlined further growth via a behind-the-meter solution, supported by more than 200 acres of land acquisition.
To fund the buildout, Core Scientific plans to raise $3.3 billion via senior secured notes due 2031, after securing a $1 billion credit facility from Morgan Stanley in March. The expansion roadmap covers Georgia, Texas, North Carolina and Oklahoma.
For crypto traders, the key link is how Core Scientific’s shift away from Bitcoin mining could alter BTC supply dynamics. Near-term market read-through may be muted because the actual effect depends on how much hashpower is removed versus redeployed elsewhere. Core Scientific’s equity strength also reflects trader interest in miner-to-AI infrastructure optionality as mining margins tighten.
Neutral
This news is mainly a corporate capital-allocation shift from Bitcoin mining to AI compute infrastructure by Core Scientific. For BTC, the direct price impact hinges on a hard-to-verify factor: how much hashpower is actually taken offline versus redeployed elsewhere. The article highlights large power capacity (up to 1.5GW, including 300MW already reassigned and additional contracted capacity), which could tighten supply expectations if it reduces effective mining output, but it is not sufficient to confirm a near-term, measurable BTC supply change.
So the likely effect on BTC is limited and conditional. Short-term, traders may price in “miner-to-AI” optionality and sentiment (Core Scientific’s equity strength), but the BTC tape typically reacts to observable hash rate/output and supply flows rather than plans alone. Long-term, if the conversion trend accelerates across miners, it could influence market narratives around energy allocation and miner profitability, yet timing uncertainty remains high.