TechFlow News, April 28: According to Cointelegraph, Bitcoin mining company Core Scientific announced on April 28 that it will transform its mining facility in Pecos, Texas, into a high-density, AI-co-located data center with a planned total power capacity of 1.5 GW—approximately 1 GW of which will be available for third-party leasing. As part of this transition, roughly 300 MW of the site’s mining capacity will be repurposed for data center operations. The foundation for the first data hall has been completed, and construction of the main structure is now underway; the facility is expected to become operational in early 2027.
To support its expansion plan, the company has acquired over 200 acres of land locally and plans to raise more than $4 billion in total funding—including $3.3 billion from the issuance of senior secured notes and a previously secured $1 billion credit facility from Morgan Stanley—to advance data center development across Texas, Georgia, North Carolina, and Oklahoma.
