Core Scientific Energizes 350MW, Secures 590MW CoreWeave Build for Early 2027 Completion
Core Scientific has energized 350MW of capacity across Muskogee, Marble and Denton sites, with nearly 200MW now billing and Denton North fully operational at 90MW. The company holds $530M liquidity, sold 1,900 BTC for $175M, and is executing a 590MW CoreWeave build, targeting full delivery by early 2027.
1. Site Energizations and Commissioning
Core Scientific energized about 350MW across Muskogee, Marble and Denton in Q4, with roughly 200MW billing. Muskogee’s 70MW phase one is commissioning, Marble’s 65MW site is fully energized, Denton campus delivered 67MW billable capacity and Denton North operates 90MW.
2. CoreWeave Buildout and Capacity Pipeline
Management is executing a 590MW build for CoreWeave through five AI-focused facilities started in the last 14 months, spanning brownfield expansions in Denton and Marble plus greenfield campuses in Muskogee and Georgia. The company has 500MW under exclusivity with an investment-grade counterparty, 700MW of unannounced leasing opportunities and 1.5GW of total customer-leasable capacity, targeting full delivery by early 2027.
3. Liquidity, Financing, and Strategic Shift
Core Scientific ended Q4 with $530M of liquidity, sold 1,900 BTC for $175M and retains financing capacity up to $4B against contracted infrastructure. Executives outlined a strategic shift from Bitcoin mining to colocation, highlighting expansions including Dalton’s growth to 450MW, Pecos conversion to 200MW and a 265-acre Hunt County site for 285MW leasable capacity.