That takes its leased customer book to about 1.1 gigawatts. The Block chip-purchase contract is scrapped at a $41.9 million charge, and second-quarter revenue from mining on the company's own account fell 66%.

Core Scientific has placed 529 megawatts of AI infrastructure capacity in the United States under 15-year leases with AMD, base contracts the company says may yield upwards of $14 billion.

A quarterly filing splits that capacity. AMD takes direct leases on 377 MW across company facilities at Pecos and Hunt County in Texas and at Muskogee, Oklahoma; the other 152 MW goes to a cloud provider that was not identified, at sites in Auburn, Alabama, and Dalton, Georgia, with AMD standing behind those contracts. The two companies said they would also work together on how the data centers are designed and on rolling out AMD's Instinct GPUs, EPYC processors and ROCm software.

AMD's claim on Core Scientific sites may reach further than those leases. If certain conditions are met, AMD can reserve an additional 1,925 MW — roughly 1.9 gigawatts — through December 28, 2028, which would take the partnership to about 2.5 gigawatts. The capacity already leased should start hosting deployments for AMD's customers in 2027.

The arrangement gives AMD more than capacity. AMD was granted warrants entitling it to buy as many as 30 million Core Scientific shares at $23.47 each. About 6.5 million of those vested when the first leases were signed, and the rest vest step by step as more capacity is put under contract.

The leases hasten Core Scientific's move out of bitcoin mining and into AI data centers, a shift that follows the scrapping of its ASIC chip-purchase contract with Block. That 2024 agreement covered 3-nanometer mining chips amounting to about 15 EH/s of hashrate, and walking away from it left a charge of $41.9 million.

The second-quarter accounts carry the same shift. Colocation accounted for $136.7 million of the $164.2 million in total revenue, or 83%, while revenue from mining on the company's own account slid 66%, to $21.5 million.

With the new contracts, capacity leased out to customers climbs to about 1.1 gigawatts, a portfolio that could bring in over $24 billion of contracted revenue. By the middle of July, 437 MW was being billed to customers.