Core Scientific has disclosed a 15-year AI infrastructure partnership with AMD, involving 529 megawatts of data center capacity in the United States. The company stated that the potential revenue from this infrastructure contract exceeds $14 billion, and the deployment is expected to support AMD customers starting in 2027.
The 529 MW agreement covers multiple data centers.
According to the company's quarterly filings, AMD directly leased 377 megawatts of capacity from Core Scientific in Pecos, Texas, Hunt County, and Muskogee, Oklahoma. An unnamed cloud provider also leased 152 megawatts in Auburn, Alabama, and Dalton, Georgia, with agreements backed by AMD.
The two parties will also collaborate on data center design and deploy AMD Instinct GPUs, EPYC processors, and ROCm software.
- Contracted basic capacity: 529 MW
- Expected deployment start: 2027
- Base contract revenue: potentially exceeding $14 billion
AMD retains the option to add additional capacity.
The company stated that, subject to certain conditions, AMD can reserve an additional 1,925 megawatts of capacity until December 28, 2028. If all of this is implemented, the scale of the cooperation between the two parties will expand to approximately 2.5 gigawatts.
With this new agreement finalized, Core Scientific's total leased capacity to customers has increased to approximately 1.1 gigawatts, corresponding to potential contract revenue exceeding $24 billion. The company stated that as of mid-July, billed customer capacity totaled 437 megawatts, equivalent to annualized managed revenue of approximately $635 million.
Mining revenue declined, business focus shifted to AI
This partnership further accelerates Core Scientific's shift from Bitcoin mining to AI data center business. The company's total revenue for the second quarter was $164.2 million, of which hosting revenue was $136.7 million, accounting for approximately 83%; revenue from self-operated mining decreased by 66% year-over-year to $21.5 million.
The company also terminated its Bitcoin mining chip procurement agreement with Block, recognizing a $41.9 million fee as a result. The agreement, signed in 2024, originally involved 3-nanometer chips, corresponding to approximately 15 EH/s of computing power.
Regarding Bitcoin holdings, Core Scientific held 848 BTC as of June 30, worth approximately $49.7 million, up from 547 BTC three months earlier. The company sold 2,385 BTC in the first quarter of this year, realizing $208.2 million.
Additional information:In terms of revenue structure, Core Scientific's current new contracts and billed capacity mainly come from hosting and AI infrastructure businesses, while the proportion of Bitcoin self-operated mining in the company's revenue has declined significantly.
