Core Scientific Inks Deal With AMD as Bitcoin Miners Pivot to AI

Core Scientific has signed a deal with semiconductor giant AMD to lease out its data center infrastructure starting next year. The move highlights a growing trend among crypto miners who are shifting focus toward artificial intelligence computing power.

Under the agreement, AMD will lease AI infrastructure from the firm, with potential plans to purchase Core Scientific common stock in the future. News of the partnership sent Core Scientific shares, trading under the ticker CORZ, higher as investors rallied behind the strategy.

As Bitcoin mining rewards decrease and energy costs stay high, several major mining firms are looking for new revenue streams. Offering high performance computing for AI models allows companies to use their existing facilities and power setups to generate steady cash flow.

Market watchers are now keeping a close eye on whether other mining operations will follow this path. This shift could help miners protect their balance sheets while keeping their crypto mining hardware active when profitable.