Core Scientific Plans Expansion to 1.5 Gigawatts of Gross Power at Pecos, Texas Campus

About this update from Core Scientific, Inc.

AUSTIN, Texas--(BUSINESS WIRE)-- 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 b...

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