Core Scientific lands AMD AI deal as bitcoin mining operation winds down
Core Scientific has signed a major deal with AMD to repurpose its data centers for AI infrastructure, signaling a strategic shift away from bitcoin mining. The partnership includes significant capacity leases and stock warrants, reflecting the company's pivot toward high-growth AI computing.
Why it matters
This move illustrates a broader industry trend where crypto-mining firms are pivoting their energy-intensive infrastructure to support the surging demand for AI and data center capacity.
The capacity is expected to support AMD customer deployments beginning in 2027. The agreements give AMD, under certain conditions, the right to reserve another 1,925 MW through Dec. 28, 2028, potentially expanding the partnership to roughly 2.5 gigawatts.
AMD directly leased 377 MW across Core Scientific sites in Pecos and Hunt County, Texas, and Muskogee, Oklahoma, according to the company’s quarterly filing .
An unnamed cloud provider leased another 152 MW in Auburn, Alabama, and Dalton, Georgia, under agreements supported by AMD.
Core Scientific and AMD will collaborate on data-center design and the deployment of AMD Instinct graphics processing units, EPYC processors and ROCm software, the companies said.
AMD also received warrants to purchase up to 30 million Core Scientific shares at $23.47 per share. About 6.5 million vested when the initial leases were signed, with further warrants vesting as additional capacity is contracted.
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