Another Bitcoin Miner Is Betting Big on AI. This Time It's Core Scientific

Another Bitcoin miner is making the jump into AI.

Core Scientific has announced a major partnership with AMD, with the chipmaker securing access to up to 2.5 gigawatts of data centre capacity starting in 2027 to power its AI infrastructure.

The two companies will also work together on building AI data centres using AMD's Instinct GPUs, EPYC processors, and ROCm software. AMD could even end up buying shares in Core Scientific as part of the agreement.

Core Scientific Is Moving Further Away From Bitcoin

This isn't a one-off move either.

Core Scientific has been gradually shifting its focus from Bitcoin mining to AI infrastructure. Earlier this year, the company sold 1,900 BTC to help fund the transition, leaving it with 547 Bitcoin on its balance sheet.

While it's still making money from Bitcoin mining and hosting services, more of its facilities are now being converted into AI data centres.

And it's not the only miner doing this.

MARA has been expanding its AI business, while TeraWulf recently signed a 20-year AI data centre deal with Anthropic. More and more Bitcoin miners are starting to see AI as their next big growth opportunity.

The Market Didn't Love the News

Interestingly, investors didn't celebrate the announcement.

CORZ shares were up more than 5% before the market opened but later slipped into the red, falling around 3% as the broader market weakened.

That doesn't necessarily mean investors dislike the deal. It may simply reflect today's market sentiment rather than the partnership itself.

Still, the bigger picture is becoming pretty clear. Bitcoin miners are no longer relying only on mining. Many are now betting that AI data centres will become their biggest business over the next few years.

Do you think this AI pivot is the future for Bitcoin miners, or should companies like Core Scientific stick to what they know best?