Core Scientific (NASDAQ: CORZ) plots 1.5 GW AI campus buildout
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Core Scientific, Inc. is planning a major expansion of its Pecos, Texas campus into a large-scale artificial intelligence data center hub. The company outlines a multi-tiered strategy to grow the site to approximately 1.5 gigawatts of gross power, including about 1.0 gigawatt of leasable power for customers.
Currently, 300 megawatts of gross power at Pecos are used for bitcoin mining, but the site is being transformed into a high-density colocation data center campus for AI infrastructure. The first data hall has reached a key construction milestone with interior foundational footings complete and precast concrete walls arriving as the project moves toward vertical construction.
The campus is already available for lease, with initial capacity still expected in early 2027. Core Scientific has secured an additional 300 megawatts of gross power capacity under contract with its utility provider, developed a scalable behind-the-meter power solution expected to add significant capacity, and obtained more than 200 acres of land to support the planned buildout.
Positive
- Transforms Pecos into a major AI data center hub: Plan to scale the campus to approximately 1.5 GW of gross power, including about 1.0 GW of leasable capacity, supports significant expansion of high-density colocation services.
- Secured power and land for growth: The company has an incremental 300 MW of gross power capacity under contract and more than 200 acres of land, plus a scalable behind-the-meter solution expected to add substantial additional capacity.
Negative
- None.
Insights
Core Scientific is pivoting Pecos into a very large AI-focused data center campus with sizable contracted power.
Core Scientific plans to scale its Pecos, Texas campus to about 1.5 gigawatts of gross power, including roughly 1.0 gigawatt of leasable capacity for customers. Today, 300 megawatts of gross capacity there serve bitcoin mining, but the site is being repurposed for AI-oriented high-density colocation services.
The first data hall has passed a foundational construction milestone and is moving toward vertical construction, while the campus is already available for lease with initial capacity targeted for early 2027. The company has also secured an incremental 300 megawatts of gross power under contract and more than 200 acres of land, plus a scalable behind-the-meter solution expected to add further power capacity.
This strategy deepens the shift from self-mined digital assets toward recurring HDC revenue. Actual financial impact will depend on leasing progress, buildout execution, power availability and broader AI infrastructure demand, which the company addresses through standard forward-looking statement cautions.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Planned gross power at Pecos: 1.5 gigawatts
Planned leasable power at Pecos: 1.0 gigawatt
Current Pecos gross power: 300 megawatts
+3 more
6 metrics
Planned gross power at Pecos
1.5 gigawatts
Target gross power capacity for Pecos campus
Planned leasable power at Pecos
1.0 gigawatt
Target leasable power capacity for customers
Current Pecos gross power
300 megawatts
Gross power currently used for bitcoin mining
Incremental contracted gross power
300 megawatts
Additional gross power under contract with utility provider
Land secured for expansion
more than 200 acres
Land obtained to support Pecos campus buildout
Initial capacity timing
early 2027
Expected initial AI data center capacity availability
Key Terms
high-density colocation, behind-the-meter solution, gross power capacity, leasable power, +2 more
6 terms
high-density colocation financial
"a leader in digital infrastructure for high-density colocation (“HDC”)"
High-density colocation is a data center service that places a large number of servers or powerful computing equipment into a small physical footprint, requiring higher electrical power and more robust cooling than typical hosting. For investors, it matters because it lets providers earn more revenue from the same space and infrastructure while also raising capital and operating needs for power, cooling and specialized equipment — like packing many appliances into a tiny kitchen that needs stronger wiring and ventilation.
behind-the-meter solution technical
"developed a plan utilizing a scalable behind-the-meter solution"
gross power capacity technical
"300 megawatts (“MW”) of gross power capacity are currently used"
leasable power technical
"approximately 1.5 gigawatts (“GW”) of gross power, or approximately 1.0 GW of leasable power"
forward-looking statements regulatory
"This press release includes forward-looking statements within the meaning"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Risk Factors regulatory
"those described in Part I. Item 1A. — “Risk Factors” of the Company’s Annual Report"
Risk factors are elements or conditions that could cause an investment's value to decrease or lead to potential losses. They are like warning signs or obstacles that can affect the success of an investment, making it uncertain or more unpredictable. Recognizing risk factors helps investors understand the possible challenges and make more informed decisions.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 27, 2026
Core Scientific, Inc.
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
838 Walker Road, Suite 21-2105 Dover, Delaware | ||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
Registrant’s telephone number, including area code: (512 ) 402-5233
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
On March 27, 2026, Core Scientific, Inc. (the “Company”) issued in a press release announcing a multi-tiered strategy to scale its Pecos, Texas campus to approximately 1.5 gigawatts (“GW”) of gross power, or approximately 1.0 GW of leasable power. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated into this Item 7.01 by reference.
The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statement and Exhibits
(d) Exhibits:
| Exhibit No. | Description | |||||||
| 99.1 | Press Release dated April 27, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Core Scientific, Inc. | ||||||||
Dated: April 27, 2026 | ||||||||
| By: | /s/ Todd M. DuChene | |||||||
| Name: | Todd M. DuChene | |||||||
| Title: | Chief Legal Officer and Chief Administrative Officer | |||||||
Core Scientific Plans Expansion to 1.5 Gigawatts of Gross Power at Pecos, Texas Campus AUSTIN, Texas, April 27, 2026 – Core Scientific, Inc. (Nasdaq: CORZ) (“Core Scientific” or the “Company”), a leader in digital infrastructure for high-density colocation (“HDC”), today announced a multi-tiered strategy to scale its Pecos, Texas campus to approximately 1.5 gigawatts (“GW”) of gross power, or approximately 1.0 GW of leasable power. Earlier this year, Core Scientific began transforming its Pecos campus, where 300 megawatts (“MW”) of gross power capacity are currently used for bitcoin mining, into a data center campus for AI infrastructure. The first data hall has reached a critical construction milestone, with its interior foundational footings set, marking the start of the next phase of construction. Precast concrete walls are arriving on site as the project moves toward vertical construction. The site is currently available for lease, with initial capacity still expected in early 2027. In addition, Core Scientific has secured an incremental 300 MW of gross power capacity under contract with its utility provider. The Company has also developed a plan utilizing a scalable behind-the-meter solution, not included in its previously announced leasable power pipeline, that is expected to provide significant additional capacity. To support this planned expansion, Core Scientific has secured more than 200 acres of land. “We continue to leverage our deep in-house expertise to differentiate how we build and scale next generation artificial intelligence infrastructure, further illustrated by our behind-the-meter solution at our Pecos campus,” said Adam Sullivan, Chief Executive Officer of Core Scientific. "By expanding in a market where we already control power, infrastructure, and operations, we can execute with speed to meet market demand.” About Core Scientific, Inc. Core Scientific is a leader in designing, building and operating large scale, purpose-built data centers for HDC services. Core Scientific operates facilities for high-density colocation services and is a premier provider of digital infrastructure, software solutions and services to its third-party customers. Core Scientific has historically derived the majority of its revenue from earning digital assets for its own account but is rapidly increasing revenue derived from HDC. Core Scientific is in the process of repurposing its remaining non-HDC facilities to support its HDC services business as circumstances
-more- allow. Core Scientific’s facilities are located in Alabama (1), Georgia (2), Kentucky (1), North Carolina (1), North Dakota (1), Oklahoma (1) and Texas (3). Special Note Regarding Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”). Forward- looking statements may include words such as “aim,” “estimate,” “plan,” “project,” “forecast,” “goal,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the Company’s ability to scale and grow its business, successfully complete construction of its data centers, source sufficient electrical energy, necessary long lead infrastructure components, supplies and equipment, the advantages and expected growth of the Company, the Company’s ability to source and retain talent, and our ability to source and consummate acquisitions of entities holding suitable land and power. These statements are provided for illustrative purposes only and are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management. These forward-looking statements are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions, known or unknown, that could cause actual results to vary materially from those indicated or anticipated. These risks, assumptions and uncertainties include those described in Part I. Item 1A. — “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. If one or more of these risks or uncertainties materializes, or if underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. There may be additional risks that the Company could not presently know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release and should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. The Company anticipates that subsequent events and developments will cause the Company’s assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. Accordingly, you should not place undue
-end- reliance on these forward-looking statements, which speak only as of the date they are made. Please follow us on: https://www.linkedin.com/company/corescientific/ https://twitter.com/core_scientific https://www.youtube.com/@Core_Scientific Investors: ir@corescientific.com Media: press@corescientific.com
FAQ
What expansion did Core Scientific (CORZ) announce for its Pecos, Texas campus?
Core Scientific announced a multi-tiered plan to scale its Pecos, Texas campus to about 1.5 gigawatts of gross power, including roughly 1.0 gigawatt of leasable power. The site is being transformed from bitcoin mining to an AI-focused high-density colocation data center campus.
How much power capacity does Core Scientific (CORZ) currently use at Pecos and for what purpose?
The Pecos campus currently uses 300 megawatts of gross power capacity for bitcoin mining. Core Scientific is in the process of transforming this site into a data center campus for AI infrastructure, shifting the location’s focus toward high-density colocation services over time.
When is initial AI data center capacity at Core Scientific’s Pecos campus expected to be available?
The Pecos campus is already available for lease, with initial data center capacity still expected in early 2027. Construction has reached a key milestone, with interior foundational footings completed and precast concrete walls arriving as the project moves toward vertical construction.
What additional power and land has Core Scientific (CORZ) secured for the Pecos expansion?
Core Scientific has secured an incremental 300 megawatts of gross power under contract with its utility provider and more than 200 acres of land. It has also developed a scalable behind-the-meter solution expected to provide significant additional power capacity for the Pecos campus expansion.
How does the Pecos project fit Core Scientific’s shift toward high-density colocation (HDC)?
Core Scientific historically earned most revenue from mining digital assets but is rapidly growing high-density colocation revenue. Repurposing Pecos into an AI infrastructure data center campus supports this shift, aligning with its broader plan to convert remaining non-HDC facilities to HDC services as circumstances allow.
What is Core Scientific’s behind-the-meter solution mentioned for the Pecos campus?
The company describes a scalable behind-the-meter solution at Pecos that is expected to provide significant additional power capacity. This solution is not included in its previously announced leasable power pipeline and supports differentiated, rapid scaling of next-generation artificial intelligence infrastructure at the campus.