Core Scientific Terminates Block Bitcoin Mining Chip Deal, Records $41.9M Loss on July 29

According to Protos, Core Scientific terminated its Bitcoin mining chip purchase agreement with Block on July 29, recording a $41.9 million loss on previously paid deposits.

Core had paid Block $67.9 million in prepayments across three installments starting July 2024. The decision to end the contract came as the data center operator inked a 15-year lease with AMD covering 529 megawatts, projected to generate over $14 billion in contract revenue.