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Core Scientific says it will completely stop mining Bitcoin by December 31, 2026.
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The company announced this on its Q3 2026 earnings call on November 5, 2026.
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As recently as December 2025, Core Scientific's own target for ending mining was 2028.
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Bitcoin mining brought in just 17.5 million dollars, only 7.5 percent of Q3 revenue.
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AI and HPC colocation revenue was 215.4 million dollars, up nearly 60 percent in one quarter.
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The company already took a 266.5 million dollar writedown on mining equipment in Q1 2026.
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Core Scientific is not alone: Bitfarms, Cipher, MARA and Riot have all shifted capital toward AI.
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Fewer big miners means less Bitcoin hashrate from these players, raising questions about mining concentration.