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Core Scientific Inc. (NASDAQ: CORZ) is one of the largest Bitcoin miners in the United States.
The company's mining facilities are spread across Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma, and Texas.
However, like many of its peers, Core Scientific is also slowly pivoting away from mining activities.
And Wall Street is taking notes.
Related: Mining firm chair explains why bitcoin price might not be as volatile as it seems
In the past couple of years, Bitcoin mining has become a cut-throat industry.
Higher energy prices, increased network difficulty, and periodic Bitcoin halving events reduce mining rewards.
At the same time, there is no stopping the demand for AI and high-performance computing.
For miners looking to stay afloat with stable, predictable revenue, jumping ship becomes the only option.
By repurposing data centers for colocation and AI workloads, miners can better monetize infrastructure, diversify income streams and reduce exposure to crypto market volatility.
In fact, during its earnings call on March 3, Core Scientific revealed that it sold approximately 1,900 BTC in January for $175 million to fund its AI plans.
In July 2025, Bitcoin miner-turned-AI powerhouse CoreWeave acquired Core Scientific in an all-stock transaction. The acquisition was a part of the strategy to deploy AI and HPC workloads at scale.
On March 23, Core Scientific announced it had secured a $1 billion credit facility, backed by two of the biggest names in traditional finance, JPMorgan Chase and Morgan Stanley.
The latest update includes an additional $500 million commitment from JPMorgan, building on a previously announced $500 from Morgan Stanley.
This brings the total available credit funding to $1 billion for their expansion plans.
The financing will be used to develop data center infrastructure, including equipment purchases, land acquisition and energy procurement.
At press time, CORZ stock was up by 4.87%, trading near $16.58.
A deeper look into the stock reveals that in the past six months, it has dropped by 2.47%, mirroring the pullback in the crypto market. However, year-to-date returns are up by 3.69%. If we zoom out further and look at the one-year track record, CORZ stock has increased by 78.09%.
