Core Scientific Terminates Block BTC Chip Deal, Books $41.9M Loss

Core Scientific cancels BTC mining chip contract with Block, recognizing a $41.9M loss on advance payments. This follows a major 15-year AMD lease agreement.

Woofun AI reports that Core Scientific has terminated its BTC mining chip procurement agreement with Block, resulting in a $41.9 million loss. The company had previously issued advance payments totaling $67.9 million to Block, comprising $10 million in July 2024, $21.3 million in January 2025, and $36.6 million in January 2026. With the cancellation of remaining delivery obligations, these prepayments are now recorded as losses. Prior to this termination, Core Scientific executed a 15-year lease with AMD for 529 megawatts of capacity, projected to yield over $14 billion in revenue.