Via corescientific.com
The former Bitcoin miner just locked in one of the largest AI infrastructure agreements in the data center space, giving AMD access to massive power capacity and a stake in Core Scientific's future.
Core Scientific just made one of the clearest statements yet about where the former Bitcoin miner sees its future. Spoiler: it’s not mining Bitcoin.
The NASDAQ-listed infrastructure company announced a strategic partnership with AMD on July 28, giving the chipmaker access to more than 2.5 gigawatts of data center capacity across Core Scientific’s US facilities. AMD plans to fill that space with its own silicon.
What the deal actually looks like #
The agreement has two major components. First, AMD gets access to over 500 megawatts of data center capacity starting in 2027, with the option to scale up to the full 2.5 gigawatts over time.
Second, AMD receives market-priced warrants for Core Scientific common stock, but they come with strings attached. The warrants are contingent on commercial milestones being hit, meaning AMD only gets equity upside if the partnership actually delivers results.
The collaboration goes deeper than just leasing floor space. Both companies will work together on infrastructure design and deployment, specifically around AMD’s Instinct GPUs, EPYC CPUs, and ROCm software stack.
AMD’s SVP Mathew Hein framed the partnership around necessity, citing the importance of “trusted infrastructure partners” for achieving the kind of scalability that AI demand now requires.
From Bitcoin mining to AI landlord #
Core Scientific’s transformation has been one of crypto’s more fascinating corporate pivots. The company, which emerged from Chapter 11 bankruptcy in early 2024, has been steadily repositioning itself as a high-density colocation provider for AI and high-performance computing workloads.
Core Scientific has been particularly aggressive in this pivot. The company reported significant revenue growth in Q1 2026 as its AI/HPC colocation business ramped up. The company also previously entered into extensive deals with firms like CoreWeave, though CoreWeave’s proposed $9 billion acquisition was terminated in October 2025 following a shareholder vote.
What this means for investors #
The warrant structure is worth watching closely. By tying AMD’s equity upside in Core Scientific to commercial milestones, both companies have created an incentive alignment that goes beyond a standard landlord-tenant relationship.
For Core Scientific shareholders, the deal introduces a notable dynamic. Warrants are dilutive by nature, meaning existing shareholders will see their ownership percentages decrease if AMD hits those milestones and exercises the warrants. The 500-megawatt initial deployment starting in 2027 gives investors a concrete timeline to track execution against.
For AMD, this deal is part of a broader push to challenge Nvidia’s dominance in the AI accelerator market. Securing dedicated infrastructure capacity ensures AMD has physical homes for its hardware, making it easier to pitch enterprise customers on full-stack AI solutions rather than just selling chips and hoping someone else figures out the power and cooling. Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our