Daily Crypto Briefs 
MIAMI, July 28, 2026
AMD said it will secure more than 500 megawatts of Core Scientific’s U.S. data-center infrastructure from 2027 to deploy AI systems for customers, with an option to expand to 2.5 gigawatts as the former Bitcoin miner converts more of its power footprint to high-density computing.
The companies announced the partnership Tuesday without naming the end customers, specific campuses, pricing or a full construction timetable. They said they will collaborate on the physical infrastructure and deployment of AMD Instinct GPUs, EPYC CPUs and ROCm software, while AMD will receive market-priced warrants to buy Core Scientific shares if undisclosed commercial conditions are met.
The numbers put the capacity deal beside a changing operating mix at Core Scientific. Its second-quarter results showed colocation revenue of $136.7 million, up from $77.5 million in the first quarter, while billed capacity rose to 395 MW from 225 MW. Total revenue was $164.2 million, and the company said it had $1.82 billion of liquidity, including cash and digital assets, at June 30.
Bitcoin, which still shapes the economics of the facilities Core Scientific is repurposing, closed at $63,701 on July 27 after trading as high as $66,521 on July 21, according to CoinGecko historical data. The same data put July 27 volume near $14.7 billion and Bitcoin’s market value around $1.31 trillion, a backdrop that leaves miner cash generation exposed to both token prices and the pace of AI construction.
AMD’s Mathew Hein said in the joint announcement that Core Scientific’s “extensive portfolio of AI-ready data centers” expands access to capacity needed to deploy AMD AI systems at scale. The statement frames power, land, cooling and completed data halls as scarce inputs alongside the chips themselves.
The deal arrives as publicly traded miners pursue a similar re-rating. Daily Crypto Briefs previously examined the $50 billion near-term funding gap VanEck estimated for the sector’s AI buildout, highlighting that leased capacity still has to be financed and delivered before it becomes recurring revenue.
Bitcoin
BTCAMD’s Core Scientific Deal Starts at 500 MW
More than 500 MW is the initial capacity Core Scientific said it will make available in the United States starting next year. The 2.5 GW figure is an expansion ceiling, not capacity already operating or a disclosed firm deployment schedule.
Core Scientific gave a more detailed commercial snapshot alongside its earnings release. It said the AMD relationship had the potential to support up to 2.5 GW of leasable capacity and was anchored by 15-year agreements covering about 530 MW across five sites, with more than $14 billion of potential base contracted revenue. That language does not identify the customer mix behind each site or say that every potential megawatt has been built, commissioned or billed.
The company reported approximately 1.1 GW of total leased customer power capacity and more than $24 billion of potential contracted revenue. By mid-July, it said it was billing 437 MW of capacity, representing about $635 million of average annualized colocation revenue under U.S. GAAP.
Those figures show why the AMD announcement is more than a chip supply headline. A commitment from a major semiconductor vendor can help validate a miner’s access to powered, cooled space, but it also raises the importance of delivery dates, interconnection work, equipment availability and customer take-up.
The companies did not disclose whether AMD’s warrants have a maximum share count, an exercise price, a vesting schedule or a dilution impact. They also did not say which Core Scientific campuses will host the initial deployments. Those omissions make it too early to treat the 2.5 GW ceiling as booked revenue.
Core Scientific Converts Bitcoin Sites Into AI Capacity
Core Scientific describes itself as a provider of high-density colocation, or HDC, for AI workloads, with the remainder of its business still tied to self-mining and hosted digital-asset mining. Its current investor materials say the company is repurposing its remaining mining facilities where circumstances allow, using sites across Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma and Texas.
That is a material change from a business built around running ASIC machines for Bitcoin. AI customers need different server hardware and often liquid cooling, but miners already have many of the harder-to-source pieces: large power contracts, substations, operational teams and land designed for power-intensive equipment.
The model is spreading, though it is not automatic. TeraWulf’s 19-year Anthropic lease showed how a named, long-term AI tenant can give the pivot a contract-backed value case. Core Scientific’s AMD agreement identifies the infrastructure partner and capacity range, but it does not identify the eventual model builders, cloud providers or enterprises expected to occupy the systems.
Core Scientific’s quarter also illustrates the financing burden. The company recorded $797.5 million of capital expenditure in the second quarter, compared with $389.2 million in the first quarter. Its $1.16 billion net loss was driven primarily by changes in the fair value of warrants as its stock price rose, the company said, rather than a straightforward measure of operating cash loss.
The comparison with MARA’s 2 GW Texas AI campus plan is useful: announced power capacity is a starting point, while leases, equipment, grid delivery and construction determine when capacity turns into revenue. Core Scientific’s billing growth supplies a measurable operating checkpoint, but the much larger capacity targets still depend on execution.
AMD’s 2.5 GW Option Puts Execution in Focus
The agreement gives AMD flexibility to reserve infrastructure before all end-customer deployments are public. It also gives Core Scientific a potential source of demand while it moves sites from Bitcoin mining toward higher-density AI workloads.
That arrangement may reduce some customer-acquisition uncertainty for the operator, but it does not remove construction, power-delivery, hardware-supply or demand risk. Both companies explicitly described the capacity timing and expansion as forward-looking, and actual deployment can vary from the current plan.
Bitcoin’s move lower over the past week adds a second pressure point. The token’s price does not directly determine AI colocation revenue, but a weaker mining market can affect the cash generation and asset values of operators still running digital-asset facilities during a conversion. It can also sharpen investor attention on whether the new revenue is contracted, online and billable.
Broader crypto sentiment remained cautious. The Crypto Fear & Greed Index was 29, or Fear, on July 28, compared with 30 the day before. The index measures Bitcoin-market sentiment rather than demand for AMD infrastructure, but it underscores the weaker market environment in which miners are funding their transition.
Fear & Greed Index
July 28, 2026The next checkpoints are the identity of AMD’s end customers, the sites and terms behind the initial capacity, construction milestones, warrant details and Core Scientific’s billed MW. Until those disclosures arrive, the confirmed news is a 500 MW-plus starting commitment and a 2.5 GW expansion path, not a fully disclosed 2.5 GW deployment.
Stay up to date
Get the latest crypto insights delivered to your inbox
Primary sources and further reading
| Source | Title |
|---|---|
| | Core Scientific and AMD: infrastructure partnership announcement |
| | Core Scientific: second-quarter 2026 results |
| | Core Scientific: second-quarter 2026 Form 10-Q |
| | AMD: official newsroom and media assets |
| | CoinGecko: Bitcoin historical market data |
| | Alternative.me: Crypto Fear and Greed Index |
Fact-checked by: Daily Crypto Briefs Fact-Check Desk
Related Articles
Frequently Asked Questions
What is the AMD and Core Scientific data-center deal?
AMD said it will secure more than 500 MW of Core Scientific U.S. data-center infrastructure from 2027 to support customer deployments of AMD AI systems. The companies said the relationship can expand to 2.5 GW.
Does AMD own Core Scientific under the new agreement?
No. The announcement describes an infrastructure partnership, not an acquisition. AMD will receive market-priced warrants to purchase Core Scientific common stock if commercial conditions are met, but the companies did not disclose the warrant amount, exercise price or vesting terms.
What will the Core Scientific capacity run?
The companies said they will collaborate on physical infrastructure and deployments involving AMD Instinct GPUs, EPYC CPUs and ROCm software. They did not name the end customers, sites or detailed build schedule.
Is Core Scientific still a Bitcoin miner?
Yes, but Core Scientific says most of its revenue now comes from high-density colocation for AI workloads, while the remainder comes from self-mining and hosted digital-asset mining. It says it is repurposing remaining mining facilities for colocation where circumstances allow.