Core Scientific, once a major bitcoin mining firm, has signed a landmark partnership with chipmaker AMD to secure over 500 megawatts of U.S. data-center capacity starting in 2027, with the ability to scale up to 2.5 gigawatts. The agreement, announced Tuesday, marks a significant acceleration of the company's pivot away from mining toward high-density colocation for artificial intelligence workloads.
The collaboration covers physical infrastructure design and the deployment of AMD Instinct GPUs, EPYC CPUs, and ROCm software to support AI workloads for cloud providers, enterprises, and model builders. Under the terms, AMD will also receive market-priced warrants to purchase Core Scientific common stock (ticker CORZ), subject to certain commercial conditions.
Core Scientific has been aggressively monetizing its bitcoin holdings to fund its AI infrastructure buildout. In March, the company stated it would sell substantially all of its bitcoin this year, with the majority of those sales booked in the first quarter. The shift underscores how former miners are leveraging their power, land, and cooling infrastructure to serve the booming AI compute market.
AMD’s chief strategy officer of corporate development, Mathew Hein, emphasized that access to power, land, and infrastructure has become critical, saying, “Core Scientific’s extensive portfolio of AI-ready data centers expands access to the infrastructure our customers need to deploy AMD AI solutions at scale.” CEO Adam Sullivan pointed to the company’s execution record as the basis for the tie-up.
The AMD deal joins a customer roster led by AI hyperscaler CoreWeave, whose contracts Bernstein analysts recently highlighted for a 75% five-year average return on assets—returns they noted are not a realistic template for most bitcoin miners attempting the same pivot. Core Scientific operates data centers across seven U.S. states and continues to repurpose its remaining mining sites for colocation as conditions allow. CORZ shares rose roughly 3% in pre-market trading following the announcement, though no AMD-specific revenue figure was disclosed.
