--- title: Core Scientific Sells $208 Million in Bitcoin as Companies Shift to AI canonical: https://mining-provider.com/core-scientific-sells-208-million-in-bitcoin-as-companies-shift-to-ai/ author: Mining Provider Editorial Staff published: 2026-05-08 updated: 2026-05-08 language: en category: News description: Core Scientific sold $208 million in Bitcoin while pivoting to AI data centers, reporting a loss of $347.2 million; IREN's revenue fell 22% amid similar shifts, and Hut 8's stock rose 30% after securing a $9.8 billion AI lease. source: Provimedia GmbH --- # Core Scientific Sells $208 Million in Bitcoin as Companies Shift to AI > **Autor:** Mining Provider Editorial Staff | **Veröffentlicht:** 2026-05-08 **Zusammenfassung:** Core Scientific sold $208 million in Bitcoin while pivoting to AI data centers, reporting a loss of $347.2 million; IREN's revenue fell 22% amid similar shifts, and Hut 8's stock rose 30% after securing a $9.8 billion AI lease. --- ## Core Scientific Sells $208 Million in Bitcoin in Q1 as AI Pivot Continues Core Scientific (CORZ) reported a significant shift in its business strategy, selling Bitcoin worth $208.3 million in the first quarter of 2026. The company is pivoting towards AI data center operations, supported by a contract expansion with CoreWeave for 590 MW, projected to generate $10.2 billion in revenue over 12 years. Despite the revenue increase to $115.2 million, Core Scientific faced a loss of $347.2 million, attributed to a decline in crypto mining revenues, which fell to $30.1 million from $67.2 million. The company also completed a $3.3 billion offering of 7.75% Senior Secured Notes to finance its transition to AI-focused operations. The revenue from colocation services for AI data centers surged to $77.5 million, becoming the largest segment of the business. Core Scientific's strategic shift comes amid a broader trend of Bitcoin miners transitioning to AI infrastructure, as evidenced by its operational capacity of 1.9 GW across 10 data centers in seven U.S. states. > "The sales of Bitcoin were used to fund capital expenditures and other liquidity needs," the company stated. **Key Takeaways:** Core Scientific is transitioning to AI data centers, selling $208 million in Bitcoin, and reporting a loss of $347.2 million in Q1 2026. ## IREN Revenue Falls 22% to $145 Million as Bitcoin Miners Shift to AI IREN Limited (NASDAQ: IREN) reported a 22% decline in revenue, dropping to $144.8 million due to lower Bitcoin prices and the removal of mining hardware. The company experienced a net loss of $247.8 million, which included non-cash impairments of $140.4 million. This downturn is attributed to the ongoing expansion of AI cloud capabilities, which has clashed with the weaker Bitcoin economy. IREN has entered into a $3.4 billion contract with NVIDIA for the use of Blackwell GPUs in AI cloud services, set to begin in early 2027. The company is also replacing older mining hardware with new GPU systems, aiming to enhance its operational capacity and revenue streams in the AI sector. > "There is a global structural shortage of computing power, and the bottleneck lies in the provided data center and GPU capacity," said Daniel Roberts, Co-CEO of IREN. **Key Takeaways:** IREN's revenue fell to $145 million, with a net loss of $247.8 million, as the company pivots towards AI cloud services. ## Hut 8 Rises 30% After Signing $9.8 Billion AI Data Center Lease Hut 8 (NASDAQ: HUT) shares surged by 30% following the announcement of a new 15-year lease for AI infrastructure worth $9.8 billion. This lease covers 352 MW of IT capacity at the Beacon Point campus in Nueces County, Texas, marking a significant step in the company's expansion into hyperscale data centers. The deal is expected to contribute approximately $655 million in annual net operating income once stabilized. The Beacon Point campus is designed for a gigawatt-scale network capacity of 1,000 MW, with the first phase expected to be operational by Q1 2027. This agreement reflects a broader trend among Bitcoin miners and power-focused infrastructure operators to pivot towards AI and hyperscale computing, driven by increasing demand for high-density GPU infrastructure. > "The project is to be financed through asset-level financing structures designed to lower capital costs while limiting pressure on corporate debt," Hut 8 stated. **Key Takeaways:** Hut 8's stock rose 30% after securing a $9.8 billion lease for AI infrastructure, highlighting a shift towards AI and hyperscale computing. Sources: - [Core Scientific verkaufte im ersten Quartal Bitcoin im Wert von 208 Millionen US-Dollar, während die KI-Strategie fortgesetzt wird](https://www.coindesk.com/de/business/2026/05/07/core-scientific-sold-usd208-million-of-bitcoin-in-q1-as-ai-pivot-continues) - [IREN-Umsatz sinkt um 22 % auf 145 Millionen US-Dollar, da bitcoin Miner verstärkt auf KI setzt](https://www.cryptopolitan.com/de/iren-revenue-falls-22-to-145-million/) - [Hut 8 legt um 30 % zu, nachdem das Unternehmen einen zweiten Mietvertrag für ein KI-Rechenzentrum im Wert von 9,8 Milliarden Dollar abgeschlossen hat](https://news.bitcoin.com/de/hut-8-legt-um-30-prozent-zu-nachdem-das-unternehmen-einen-zweiten-mietvertrag-fuer-ein-ki-rechenzentrum-im-wert-von-9-8-milliarden-dollar-abgeschlossen-hat/) --- *Dieser Artikel wurde ursprünglich veröffentlicht auf [mining-provider.com](https://mining-provider.com/core-scientific-sells-208-million-in-bitcoin-as-companies-shift-to-ai/)* *© 2026 Provimedia GmbH*