Of that planned capacity, approximately 1 GW is expected to be made available for leasing.
Bitcoin News
Bitcoin miner Core Scientific is developing its Pecos, Texas, site into a large-scale artificial intelligence data center campus with up to 1.5 gigawatts of gross power capacity, the company announced Monday.
Of that planned capacity, approximately 1 GW is expected to be made available for leasing. The first data hall has completed foundational work and is now in vertical construction, with initial capacity targeted for early 2027.
About 300 megawatts currently used for BitcoinMining at the Pecos site are being repurposed for data center operations as part of the transition. The company has also secured an additional 300 megawatts under contract with its utility provider and outlined plans for further expansion through a behind-the-meter solution.
To support the buildout, Core Scientific has acquired more than 200 acres of land in the area. "We continue to leverage our deep in-house expertise to differentiate how we build and scale next generation artificial intelligence infrastructure," CEO Adam Sullivan said.
Last week, the company announced plans to raise $3.3 billion through senior secured notes due 2031 to fund data center expansion across Georgia, Texas, North Carolina and Oklahoma. That follows a separate $1 billion credit facility secured from Morgan Stanley in March, bringing its total recently arranged financing to $4.3 billion.
Core Scientific has historically generated most of its revenue from mining digital assets but has been expanding its AIinfrastructure services over the past year. The company operates facilities across Texas, Georgia and North Carolina.
Other miners are pursuing similar pivots as mining margins tighten. MARA Holdings acquired a 64% stake in French infrastructure company Exaion in February. Hive, Hut 8, TeraWulf, and Iren are also converting mining facilities into DataCenter operations.
Separately, Bitcoin mining firm NYDIG is reported to be close to acquiring Alcoa's long-dormant Massena East smelter in upstate New York, with the deal expected to close by mid-year. Earlier this year, TeraWulf acquired Century Aluminum's Hawesville, Kentucky, smelter for $200 million to convert it into a high-performance computing and AI facility.
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