Core Scientific Records $41.9 Million Loss for Terminating BTC Mining Chip Procurement Contract with Block

According to Protos, data center operator Core Scientific incurred a $41.9 million loss to terminate its BTC mining chip procurement contract with Jack Dorsey's Block. Core had previously paid Block $67.9 million in advance (including $10 million in July 2024, $21.3 million in January 2025, and $36.6 million in January 2026). After terminating the contract, the remaining delivery obligations were canceled, and the prepaid amount became a loss. Core decided to terminate the contract because leasing its data centers to AMD offered higher returns—just one day before the termination, Core signed a 15-year lease agreement with AMD covering 529 megawatts, which is expected to generate over $14 billion in contract revenue.