Crypto mine to be turned into $6B data center in Denton
Three years after Core Scientific Inc. established what it called the first Bitcoin mining facility in Texas in Denton, the company is now converting the site into a data center to support artificial intelligence.
Core Scientific will invest an estimated $6.1 billion to convert the Bitcoin mining operation at 8171 Jim Christal Road, near what’s known as the Denton Energy Center. Additional details are emerging about the major real estate and technology project in the wake of recent public meetings.
Denton City Council on Nov. 19 approved amendments to a power purchase agreement and land lease with the company. The city estimates the company’s expansion will generate $194 million in property tax revenue for the city over 10 years. The City of Denton supplies its own electricity, so significant new users generate more revenue for its coffers.
Core Scientific (Nasdaq: CORZ), based in Austin, will lease 78.85 acres of city-owned land and build two on-site substations. In 2021, it made an initial deal with the city for its Bitcoin mining facility, which the company called the first in Texas.
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Crypto mine to be turned into $6B data center in Denton, source
