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Core Scientific, a former crypto miner, has emerged from bankruptcy and is now focusing on AI. The company has convinced the city of Denton, Texas to support its plan to build one of the largest AI supercomputers in North America. This comes after the company filed for bankruptcy in 2022, just months after starting its crypto mining operations in Denton. The company has received a green light from the local government to increase its power agreement by 100 MW, making it capable of powering nearly 400,000 homes. This move is in line with the trend of industrial bitcoin miners pivoting to AI in hopes of boosting revenue streams. Core Scientific has already secured a $3.5 billion contract with AI hyperscaler CoreWeave and has allocated 200 MWs of power for this purpose. The company was founded in 2017 and has since opened nine data centers across the southern U.S. It received a $500 million loan from creditors after filing for bankruptcy and reported $95 million in third quarter revenue. This shift to AI could have a significant impact on the company’s revenue and the local economy of Denton, as it will bring in more jobs and tax revenue. It also highlights the growing importance of AI in the tech industry and the potential for companies to adapt and thrive in a rapidly changing market.