BlockBeats report: On April 28, U.S. Bitcoin mining company Core Scientific announced it will upgrade its Pecos, Texas mining facility into a high-density AI-focused data center campus, with a total power capacity target of 1.5 GW, approximately 1 GW of which will be available for external leasing.
Core Scientific stated that approximately 300 MW of power previously allocated for Bitcoin mining has been redirected to AI data center operations. The first data center facility has completed its foundational construction, with the initial computing capacity expected to come online in early 2027.
Meanwhile, the company has secured an additional 300 MW of power contracts and plans to expand further through behind-the-meter solutions. To support construction, Core Scientific has recently purchased over 200 acres of land locally.
Additionally, Core Scientific announced last week its intention to issue $3.3 billion in senior secured notes maturing in 2031 to fund the expansion of its data centers in Texas, Georgia, North Carolina, and Oklahoma. In March of this year, the company also secured a $1 billion credit facility from Morgan Stanley.
As bitcoin mining profits come under pressure, an increasing number of mining companies are transitioning toward AI infrastructure. Previously, MARA Holdings acquired a 64% stake in the French infrastructure company Exaion to enter the AI services market; Hut 8, TeraWulf, Hive Digital Technologies, and other mining firms are also converting their mining facilities into AI data centers.