From orbit
The site from above
1From orbit
COT2 fenced pad
Latest clear satellite view, April 30, 2025. What we count on the April 30, 2025 image:
- 8 roofed data halls
- 22 cooling units
Quarter by quarter
Watch the site change
One clear satellite frame per quarter, January 2022 to October 2026. Drag the slider or press play.
Sentinel-2 satellite, 10 m resolution (coarser than the photos above).
Power
Power and the grid
600 MW contracted (totals add sources with a stated size; they can overlap)
Existing utility capacity (Texas-New Mexico Power)Existing capacity, mostly mining
about 300 MW of existing utility capacity (10-K), mostly bitcoin mining; ERCOT conditionally approved it as base load in Sept. 2026; not a measured draw SEC filing · April 2026
Incremental grid capacityContracted, conditional
under contract with the utility (Apr. 2026); ERCOT approval is conditional until its large-load review ends SEC filing · April 2026
Planned campus total (gross)Planned (company)
company plan announced Apr. 27, 2026 SEC filing · April 2026
ContractedProposed
Other sources, size not disclosed
- Behind-the-meter power plant Planned, undisclosedcompany says it will add significant capacity; technology and MW not disclosed; includes a new gas pipeline; no air permit on record Company · May 2026
Getting on the grid
Who supplies what, what it costs, and what is still not public.
- 2025Texas-New Mexico Power serves 300 MWThe campus has 300 MW of gross utility capacity from Texas-New Mexico Power. SEC filing · Dec. 2025
- April 27, 2026300 MW more under contractCore Scientific discloses an incremental 300 MW of gross power under contract with the utility. SEC filing · April 2026
- Sept. 10, 2026ERCOT conditional approvalsERCOT conditionally approves the existing 300 MW as base load and the added 300 MW as studied load, with collateral posted. see Permits
- March 2027Final studied-load resultsFinal allocation and load ramp come only after ERCOT's review ends, expected spring 2027 (press). see Permits
- Price, minimum-take and collateral terms of the utility contract are not disclosed. Company · April 2026
- Texas SB 6 applies to loads over 75 MW: transmission cost sharing, disclosure of duplicate requests, and backup generation or curtailment in emergencies. SEC filing · March 2026
- The governor ordered a verification of data centers in the ERCOT large-load process, with no new approvals until it finishes (press). News report · Sept. 2026
Grid upgrades
What the grid is building for this load: the asset, its cost, who pays and when it is due to be energized. An upgrade may serve a later phase, not the first building.
- Taurus: Construct New 345 kV Station (Taurus, 345 kV, Reeves County) ERCOT transmission plan (TPIT) project 100071 · status: Conceptualcost not stated; payer not stated; due to be energized by May 2029. Dataset · July 2026
Permits
Permits checklist
1 pending · 1 granted · 1 checked, nothing on file
- ◷ERCOT large-load classification PendingERCOT and Public Utility Commission of Texas · Sept. 10, 2026: conditional approval for 300 MW existing and 300 MW added; final allocation after review ends News report · Sept. 2026
- ✓Construction stormwater coverage GrantedTexas Commission on Environmental Quality · Jan. 13, 2026: general-permit coverage active for the site State agency · Jan. 2026
- –Checked, nothing on file: Air permit for on-site generation
Risks
What could slow it down
- HighMost of the 1.5 GW is an undisclosed power plantUtility power covers 600 MW gross. The other 900 MW depends on a behind-the-meter plant with no disclosed technology, no air permit and no verified gas pipeline within 16 km. Company · Oct. 2026
- HighAdded grid power is only conditionally approvedERCOT's approval of the 300 MW increment is conditional, final results are not due until spring 2027, and the governor has ordered a verification of the large-load process (press). News report · Sept. 2026
- MediumOnly 185 MW is leasedAMD's Pecos share is 185 MW. Hyperscaler talks lapsed in May 2026 without a deal, and AMD's option on 1,925 MW more does not name sites. SEC filing · July 2026
- MediumFunded from company cash, not project debtNo Pecos entity guarantees the $3.3B notes, and Pecos is outside the completion guarantee, so the build depends on company-level funds. Company · April 2026
- WatchUtility contract terms unknownPrice, minimum-take and collateral terms for the added 300 MW are not disclosed. Company · April 2026
Money
Money on record
$3.3B
company-level senior secured notes, 7.75%, due 2031 (Pecos is not a guaranteed project)
closed May 2026; Pecos is funded from company-level cash Company · April 2026
30M
warrant shares for AMD, covering the three-site lease (not Pecos alone)
at $23.47; about 6.5 million vested at signing SEC filing · July 2026
Timeline
What happened, and what is due
SitePaper trailConstructionPowerPermitsMoneyLegalUpcoming
- May 30, 2022Site The site opens as a bitcoin-mining campus; older roofs seen from orbit date from this mining era, not the AI conversion. News report · April 2026
- Jan. 13, 2026Permits State construction stormwater coverage is issued for the site. State agency · Jan. 2026
- April 27, 2026Power Core Scientific announces the 1.5 GW plan and 300 MW more utility power; the first hall's footings are set. SEC filing · April 2026
- May 6, 2026Money Hyperscaler exclusivity at Pecos and Muskogee lapses without a deal; Pecos is still unleased. Company · May 2026
- July 27, 2026Money AMD signs 15-year leases for 377 MW across three sites, 185 MW of it at Pecos. SEC filing · July 2026
- Aug. 3, 2026Permits Governor orders verification of data centers in ERCOT's large-load process (press). News report · Sept. 2026
- Sept. 10, 2026Permits ERCOT conditionally approves 300 MW existing and 300 MW added, per a company filing. News report · Sept. 2026
- Oct. 15, 2026Site A 387 ft mobile crane is proposed near the site under the project name Rodeo (aviation filing, under review). FAA · Oct. 2026
- March 2027Permits Final ERCOT studied-load results expected (press). News report · Sept. 2026
- June 2027Power First AMD deliveries at Pecos, per company guidance (H1 2027). News report · July 2026
- Dec. 28, 2028Money AMD's right to reserve up to 1,925 MW more, at sites not named, ends. SEC filing · July 2026
Construction activity
Building activity by quarter
Since May 2021: 1 FAA filing (Oct. 2026): a 387 ft crane; 3 OSHA inspections; and 86 satellite captures.
FAA filings
OSHA visits
Satellite
’22
’23
’24
’25
’26
Dot size: records in the quarter, largest = 7. Two-digit years mark each first quarter.
The buildings
Specs
1,925 MW
extra capacity AMD may reserve at unspecified sites through Dec. 28, 2028
0.27 km
distance to the nearest 138 kV line; no verified gas pipeline within 16 km
Who is involved
Owners, partners and builders
Owner and developer
- Core Scientific (Nasdaq: CORZ): owner, operator and developer
- Core Scientific Finance I LLC: issuer of the $3.3B notes
Tenant
- AMD: direct lessee, 185 MW at Pecos; holds warrants on Core Scientific shares
- CoreWeave: not a tenant at Pecos (it leases at other Core Scientific sites)
Power
- Texas-New Mexico Power: delivery utility
- ERCOT: grid operator running the large-load review
Lenders
- Morgan Stanley (agent) and JPMorgan: 2026 bridge loan, since repaid
Builders on site
- R&G Metal Building: general contractor
- R&G Metal Building - Osha inspection at the campus construction site: 2 OSHA inspections
Still unknown
Open questions
- What the behind-the-meter plant is, how big it is, and where its gas comes from.
- Outcome of ERCOT's final review of the added 300 MW.
- Any tenant beyond AMD's 185 MW.
- How much of the first hall is built: satellite imagery still shows mostly mining-era buildings.
Where this comes from
418 records from 40 documents
Drawn from news reports, public and commercial datasets, securities filings, state agency records, company statements, satellite captures and court filings, each kept with its date and source. The bar shows documents by type.
News report 12Dataset 9SEC filing 8State agency 5Company 4Satellite 1Court filing 1
Evidence
Every quote behind this page
Grade key: A = the primary record itself (permit, filing, exhibit) · B = a dated official statement · C = news reporting. Map distances are our own measurements on OpenStreetMap and carry no grade. Allegations in lawsuits are marked as such in the quotes.
Power (44)
- Stage: building, conversion under construction; mining operating; first 185 MW AI hall at vertical/shell stage and leased to AMD“Lease Agreements with Advanced Micro Devices, Inc. for an aggregate of 377 MW of critical IT capacity at the Companys Pecos, TX; Muskogee, OK; and Hunt County, TX sites”SEC filing · Oct. 2026 · grade A
- Utility service: 300 MW“Core Scientific has secured an incremental 300 MW of gross power capacity under contract with its utility provider”SEC filing · April 2026 · grade A
- Stated campus size: 1,500 MW“Core Scientific Plans Expansion to 1.5 Gigawatts of Gross Power at Pecos, Texas Campus”SEC filing · April 2026 · grade A
- Btm tranche: The Pecos expansion plan includes 'a scalable behind-the-meter solution, not included in its previously announced leasable power pipeline, that is expected to provide significant additional capacity' - the B“developed a plan utilizing a scalable behind-the-meter solution, not included in its previously announced leasable power pipeline”SEC filing · April 2026 · grade A
- Utility service: 600 MW“300 MW existing (FY2025 10-K facility table) + 300 MW incremental gross power secured under contract (Apr 27, 2026 release) = 600 MW gross utility capacity”SEC filing · April 2026 · grade A
- Interconnection status: Texas-New Mexico Power service (ERCOT); 300 MW existing plus 300 MW incremental gross power under contract (Apr 27, 2026); site converting from bitcoin mining to AI/HPC hosting“Core Scientific has secured an incremental 300 MW of gross power capacity under contract with its utility provider”SEC filing · April 2026 · grade A
- Core Scientific announced the Pecos expansion to ~1.5 GW gross power on Apr 27, 2026, with conversion construction already under way (first data hall footings set, precast walls arriving)“Core Scientific Plans Expansion to 1.5 Gigawatts of Gross Power at Pecos, Texas Campus”SEC filing · April 2026 · grade A
- Regulatory framework: Texas SB 6 (2025) applies: sites over 75 MW must contribute to transmission interconnection costs, disclose duplicative interconnection requests, and maintain backup generation or load curtailment c“SB 6 applies to customers with loads exceeding 75 megawatts at a single site and requires such customers to contribute to transmission interconnection costs”SEC filing · March 2026 · grade A
- State large-load requirements: requirements in force“SB 6 applies to customers with loads exceeding 75 megawatts at a single site and requires such customers to contribute to transmission interconnection costs, disclose duplicative interconnection requests”SEC filing · March 2026 · grade A
- Site address TCEQ: 1851 FM 2119, Pecos, Reeves County TX (31.5335,-103.80075), RN112350962“CORE SCIENTIFIC, TXR1592WY, Stormwater, PECOS, ISSUED PERMIT; issued to Core Scientific, Inc., 1851 FM 2119.”State agency · Jan. 2026 · grade A
- Utility service: 300 MW“Texas New-Mexico Power 300 Pecos, Texas”SEC filing · Dec. 2025 · grade A
- Utility service: 300 MW“Texas New-Mexico Power — 300 — Pecos, Texas (gross utility power capacity table)”SEC filing · Dec. 2025 · grade A
- Utility: Texas-New Mexico Power (TNMP)“Texas New-Mexico Power — 300 — Pecos, Texas”SEC filing · Dec. 2025 · grade A
- Nearest substation: unnamed (138 kV) - 1.04 kmMeasured on OpenStreetMap map data.
- Nearest power line of 345 kV or more: unnamed (345 kV, Oncor) - 16.58 kmMeasured on OpenStreetMap map data.
- Nearest power line of 138 kV: unnamed (138 kV) - 0.27 kmMeasured on OpenStreetMap map data.
- Nearest gas pipeline: no substance-verified gas pipeline mapped within 16 km (nearest pipeline way, substance untagged, 0.31 km)Measured on OpenStreetMap map data.
- On-site air permit: none found“positive controls present (GW Ranch 181033, Kilby 181895, Poolside 183235)”State agency · Oct. 2026 · grade B
- Paper or real: Real: 300 MW operating grid load, 300 MW incremental grid under contract/conditional approval, 185 MW first hall under construction and leased. Paper: the roughly 900 MW balance to 1,500 MW rests on an und“developed a plan utilizing a scalable behind-the-meter solution, expected to provide significant additional capacity”Company · Oct. 2026 · grade B
- IT capacity: 185 MW“Pecos, TX* ~185 MW”SEC filing · July 2026 · grade B
- Grid upgrade due to be energized by: May 31, 2029“Taurus: Construct New 345 kV Station. Interconnect TNMP data center load to the new Taurus 345 kV station on the Solstice to Sand Lake 345 kV line.”Dataset · July 2026 · grade B
- IT capacity: 185 MW“construction of our initial 431,000-square-foot, 185 megawatt facility is progressing from civil work into foundation phases”Company · May 2026 · grade B
- On-site power technology: Behind-the-meter generation, low-emission (company wording); technology and OEM not disclosed; includes construction of a linear gas pipeline to the campus“The behind-the-meter strategy leverages low-emission generation and includes the construction of a linear gas pipeline to the campus”Company · May 2026 · grade B
- Name: Core Scientific Pecos Texas Campus“Core Scientific Plans Expansion to 1.5 Gigawatts of Gross Power at Pecos, Texas Campus”Company · April 2026 · grade B
- Operator: Core Scientific, Inc. (owner-operator)“By expanding in a market where we already control power, infrastructure, and operations, we can execute with speed to meet market demand”Company · April 2026 · grade B
- Stated campus size: 1,500 MW“announced a multi-tiered strategy to scale its Pecos, Texas campus to approximately 1.5 gigawatts of gross power”Company · April 2026 · grade B
- IT capacity: 1,000 MW“scale its Pecos, Texas campus to approximately 1.5 gigawatts (GW) of gross power, or approximately 1.0 GW of leasable power”Company · April 2026 · grade B
- Power plan: hybrid“The Company has also developed a plan utilizing a scalable behind-the-meter solution, that is expected to provide significant additional capacity”Company · April 2026 · grade B
- On-site generation: not stated“a scalable behind-the-meter solution, not included in its previously announced leasable power pipeline, that is expected to provide significant additional capacity”Company · April 2026 · grade B
- Announced: April 27, 2026“today announced a multi-tiered strategy to scale its Pecos, Texas campus to approximately 1.5 gigawatts of gross power”Company · April 2026 · grade B
- Pecos 1.5 GW gross / 1.0 GW leasable expansion plan announced; site offered for lease; incremental 300 MW utility contract and behind-the-meter plan disclosed“announced a multi-tiered strategy to scale its Pecos, Texas campus to approximately 1.5 gigawatts of gross power, or approximately 1.0 GW of leasable power”Company · April 2026 · grade B
- On-site plant status: no public record“Core said it is also planning to develop a behind-the-meter solution, which is expected to provide "significant" additional capacity.”News report · Oct. 2026 · grade C
- Reported completion of a 100 MW expansion at the Pecos facility during the mining era (aggregator timeline; low weight)“In October 2024, the company finished a 100 MW expansion at its Pecos, Texas, data center”News report · Oct. 2026 · grade C
- Verdict: no public record. No on-site generation plant at the Pecos (Cottonwood) campus appears in EIA-860M, CAMPD, or any TCEQ air-permit record found; the site's operating 300 MW is utility-contracted grid power for mi“Core said it is also planning to develop a behind-the-meter solution, which is expected to provide "significant" additional capacity.”News report · Oct. 2026 · grade C
- Utility service: 600 MW“At Pecos, 300 MW of existing load received conditional base-load approval from ERCOT; another 300 MW was designated studied load”News report · Sept. 2026 · grade C
- Grid operator: ERCOT“conditional ERCOT approvals covering up to 1,402 MW of electrical power across three existing and proposed Texas data-center sites”News report · Sept. 2026 · grade C
- Interconnection status: Conditional ERCOT Batch Zero approvals: 300 MW existing load as Base Load Pathway (b); 300 MW expansion as Studied Load; documentation submitted and collateral posted; final allocation and load ra“An additional 300 megawatts was conditionally approved in Batch Zero as Studied Load; it will not receive the final allocation and load ramp until the Batch Zero process concludes”News report · Sept. 2026 · grade C
- ERCOT large-load classification (Batch Zero): conditional approval, Base Load, Pathway (b)“The existing 300 megawatts was conditionally approved in Batch Zero as Base Load, Pathway (b) — existing load energized after March 25, 2022 and before July 10, 2026”News report · Sept. 2026 · grade C
- ERCOT large-load classification (Batch Zero): conditional approval, Studied Load“An additional 300 megawatts was conditionally approved in Batch Zero as Studied Load; it will not receive the final allocation and load ramp until the Batch Zero process concludes”News report · Sept. 2026 · grade C
- Construction stage: vertical“in Pecos, the precast in the building is almost complete here in a number of weeks. The full shell for the first 185 MW will be done”News report · July 2026 · grade C
- Current target date: early 2027 (initial AI hosting capacity; first AMD deliveries at Pecos from H1 2027)“The full 530MW is set to be delivered by the end of 2028, starting in Pecos and Auburn in H1 2027”News report · July 2026 · grade C
- AMD lease package (July 27, 2026): 529 MW initial across five sites (377 MW direct to AMD at Pecos / Muskogee / Hunt County + 152 MW to an unnamed neocloud at Auburn AL and Dalton GA under AMD credit support), more than USD“AMD leased 529 megawatts from Core Scientific and took equity warrants, a deal with room to expand to 2.5 gigawatts by 2028.”News report · July 2026 · grade C
- Q2 2026 results: revenue $164.2M; colocation revenue $136.7M (83% of total); billing 437 MW portfolio-wide; net loss of about $1.16B driven by non-cash warrant fair-value marks (press-reported)“Colocation generated $136.7 million, or 83% of its $164.2 million in second-quarter revenue, while self-mining revenue fell 66% to $21.5 million”News report · July 2026 · grade C
- IT capacity: 300 MW“Currently offering 300MW of mining capacity”News report · 2026 · grade C
Money and contracts (38)
- Tenant status: signed“entered into Lease Agreements (the "AMD Leases") with Advanced Micro Devices, Inc. ("AMD") for an aggregate of 377 MW of critical IT capacity at the Company's Pecos, TX; Muskogee, OK; and Hunt County, TX sites”SEC filing · July 2026 · grade A
- Tenants: AMD“entered into Lease Agreements (the "AMD Leases") with Advanced Micro Devices, Inc. ("AMD") for an aggregate of 377 MW of critical IT capacity at the Company's Pecos, TX; Muskogee, OK; and Hunt County, TX sites”SEC filing · July 2026 · grade A
- Tenant lease: execution“entered into Lease Agreements (the "AMD Leases") with Advanced Micro Devices, Inc. ("AMD") for an aggregate of 377 MW of critical IT capacity at the Company's Pecos, TX; Muskogee, OK; and Hunt County, TX sites”SEC filing · July 2026 · grade A
- data center leases (AMD Leases): termination Not stated: the 8-K summarizes no early-termination, cancellation or convenience-termination clause for the AMD Leases, and the leases themselves are not filed as exhibits, a“99.1 Press Release, dated July 28, 2026; 99.2 Investor Presentation, dated July 28, 2026 (exhibit list — the leases are not exhibits)”SEC filing · July 2026 · grade A
- AMD Leases (377 MW, three sites including Pecos 185 MW) and Neocloud Leases (152 MW, Auburn/Dalton) executed; AMD warrant issued“On July 27, 2026, the Company entered into Lease Agreements (collectively, the AMD Leases) with Advanced Micro Devices, Inc. (AMD)”SEC filing · July 2026 · grade A
- AMD lease aggregate: 377 MW of critical IT capacity leased to AMD on July 27, 2026 in aggregate across Pecos TX, Muskogee OK and Hunt County TX (15-year term); the 10-Q does not split the 377 MW by site. The Q2 FY26 deck“entered into Lease Agreements (the “AMD Leases”) with Advanced Micro Devices, Inc. (“AMD”) for an aggregate of 377 MW of critical IT capacity at the Company’s Pecos, TX; Muskogee, OK; and Hunt County, TX sites”SEC filing · July 2026 · grade A
- Tenants: Advanced Micro Devices, Inc. (AMD)“the Company entered into Lease Agreements (collectively, the AMD Leases) with Advanced Micro Devices, Inc. (AMD) for an aggregate of 377 MW of critical IT capacity at the Companys Pecos, TX; Muskogee, OK; and Hunt County, TX sites”SEC filing · July 2026 · grade A
- Tenant status: signed lease“Each of the Leases is for a fifteen year term with three five-year options”SEC filing · July 2026 · grade A
- data center leases (AMD Leases): scope 377 MW of critical IT capacity across the Pecos TX, Muskogee OK and Hunt County TX sites MW“Lease Agreements with Advanced Micro Devices, Inc. (AMD) for an aggregate of 377 MW of critical IT capacity at the Companys Pecos, TX; Muskogee, OK; and Hunt County, TX sites”SEC filing · July 2026 · grade A
- data center leases (AMD Leases): term Fifteen-year term with three five-year options (up to 30 years) years“Each of the Leases is for a fifteen year term with three five-year options”SEC filing · July 2026 · grade A
- data center leases (AMD Leases): reservation option AMD reservation-of-capacity right: an additional 1,925 MW of critical IT capacity, exercisable through December 28, 2028 (sites not specified in the 8-K) MW“provide AMD a reservation of capacity right to lease from the Company at certain times and under certain circumstances an additional 1,925 MWs of critical IT capacity through December 28, 2028”SEC filing · July 2026 · grade A
- equity warrant (lease consideration): warrant terms Warrant for up to 30,000,000 shares at $23.47 per share; shares vest at 12,222 per MW of critical IT capacity under the Leases; approximately 6.5 million shares vested at s“issued to Advanced Micro Devices, Inc. (AMD) a warrant (the Warrant) to purchase up to 30 million shares of the Companys common stock at an exercise price of $23.47 per share”SEC filing · July 2026 · grade A
- data center leases (Neocloud Leases): scope 152 MW of critical IT capacity at the Auburn, AL and Dalton Phase 3, GA sites only, NOT at Pecos; recorded to prevent misattribution of this capacity to this campus MW“Lease Agreements (the Neocloud Leases) with a Neocloud, for 152 MW of critical IT capacity at the Companys Auburn, AL and Dalton Phase 3, GA sites”SEC filing · July 2026 · grade A
- credit support agreements (Neocloud Leases): termination Each Credit Support Agreement terminates automatically on the earliest of: expiration of the applicable Neocloud Lease; specified Neocloud insolvency or default ci“Each Credit Support Agreement will terminate automatically upon earliest to occur of the expiration of the applicable Neocloud Lease, specified circumstances relating to the insolvency or default of Neocloud, and 15 years from the effective date”SEC filing · July 2026 · grade A
- AMD leased an aggregate 377 MW of critical IT capacity across Core Scientific's Pecos, Muskogee and Hunt County sites on July 27, 2026 (15-year terms); the filing does not split capacity by site, and the Q2 deck flags Pe“entered into Lease Agreements (the “AMD Leases”) with Advanced Micro Devices, Inc. (“AMD”) for an aggregate of 377 MW of critical IT capacity at the Company’s Pecos, TX; Muskogee, OK; and Hunt County, TX sites”SEC filing · July 2026 · grade A
- Offtake: execution“Core Scientific has secured an incremental 300 MW of gross power capacity under contract with its utility provider”SEC filing · April 2026 · grade A
- Offtake: capacity 300 MW gross“Core Scientific has secured an incremental 300 MW of gross power capacity under contract with its utility provider”SEC filing · April 2026 · grade A
- Tenants: CoreWeave, Inc., NOT a tenant at Pecos (portfolio tenant at six other sites“In June 2024, Core Scientific announced that it had entered another contract with CoreWeave for 200 MW of leased customer power capacity”SEC filing · March 2026 · grade A
- HPC hosting contracts (CoreWeave): scope Approximately 590 MW of leased customer power capacity across six sites (16 MW Austin, Feb 2024; 200 MW contract, Jun 2024; options exercised through early 2025). No Pecos capacit“total leased customer power capacity under the relationship with CoreWeave increased to approximately 590 MW of leased power capacity”SEC filing · March 2026 · grade A
- CoreWeave merger agreement signed: all-stock acquisition of Core Scientific, subject to stockholder approval“On July 7, 2025, the Company entered into an Agreement and Plan of Merger (the Merger Agreement) with CoreWeave, Inc.”SEC filing · March 2026 · grade A
- Tenant lease: capacity 185 MW critical IT“Pecos, TX* ~185 MW”SEC filing · July 2026 · grade B
- Square feet: 431000 sq ft“construction of our initial 431,000-square-foot, 185 megawatt facility is progressing from civil work into foundation phases”Company · May 2026 · grade B
- Tenant status: available for lease (unleased)“we were engaged in an exclusivity process with a hyperscaler across Pecos and Muskogee. That exclusivity is now expired, however, three other hyperscalers immediately engaged”Company · May 2026 · grade B
- $3.3B senior secured notes closed; 364-day bridge facility repaid in full and terminated; Q1 2026 results released“Today, we closed on a $3.3 billion capital raise supported by that contract, with the proceeds to be used for future growth”Company · May 2026 · grade B
- utility power contract: scope Incremental 300 MW of gross power capacity under contract with the utility provider MW“Core Scientific has secured an incremental 300 MW of gross power capacity under contract with its utility provider”Company · April 2026 · grade B
- utility power contract: minimum take and price Minimum-take, price and collateral terms are not disclosed in any company statement opened, absence recorded as a finding (ERCOT collateral for the studied load is disclose“Core Scientific has secured an incremental 300 MW of gross power capacity under contract with its utility provider”Company · April 2026 · grade B
- Financing: $3.3B 7.750% senior secured notes due 2031 (issuer Core Scientific Finance I LLC), priced Apr 22, 2026 at 99.25, closed May 6, 2026; guaranteed by the Austin, Denton, Dalton, Marble and Muskogee LLCs, no Peco“priced an offering of $3.3 billion aggregate principal amount of 7.750% senior secured notes due 2031 at an issue price equal to 99.250% of the principal amount”Company · April 2026 · grade B
- senior secured notes indenture: scope $3.3B 7.750% senior secured notes due 2031, issued at 99.25; secured by first-priority liens on substantially all assets of the issuer and the subsidiary guarantors, the issuer equit“The Notes and related note guarantees will be secured by first-priority liens on (i) substantially all assets of the Issuer and the Subsidiary Guarantors, other than certain excluded property”Company · April 2026 · grade B
- senior secured notes indenture: guarantee scope The parent completion guarantee covers the Dalton GA, Denton TX, Marble NC and Muskogee OK datacenters only; Pecos is NOT a guaranteed Project, Pecos development is funded“a customary completion guarantee with respect to the development and construction of certain datacenters located in Dalton, Georgia; Denton, Texas; Marble, North Carolina; and Muskogee, Oklahoma”Company · April 2026 · grade B
- Financing: $1B 364-day delayed-draw bridge facility (SOFR+250): $500M Morgan Stanley-led commitment dated Mar 4, 2026, plus $500M JPMorgan accordion in Mar 2026; repaid in full and terminated May 6, 2026 from the notes p“Delayed-Draw Bridge Credit Agreement, dated as of March 4, 2026, among Core Scientific, Inc., as borrower, and Morgan Stanley Senior Fundings, Inc., as administrative agent”SEC filing · March 2026 · grade B
- Delayed-Draw Bridge Credit Agreement executed (364-day; Morgan Stanley Senior Funding as administrative and collateral agent); filed as Exhibit 10.1 to the 8-K of Mar 6, 2026“Delayed-Draw Bridge Credit Agreement, dated as of March 4, 2026, among Core Scientific, Inc., as borrower, the lenders party thereto, and Morgan Stanley Senior Fundings, Inc., as administrative agent”SEC filing · March 2026 · grade B
- HPC hosting contracts (CoreWeave): term 12-year contract terms (portfolio); the company retains the option for two additional five-year renewal terms on the Denton increment years“New Agreement Boosts Total Projected Revenue to $10.2 Billion over 12-year Contract Terms; the company also retains the option for two additional five-year renewal terms”Company · Feb. 2025 · grade B
- HPC hosting contracts (CoreWeave): capex sharing Denton +70 MW increment: Core Scientific funds $104 million of the additional required capex ($1.5M per MW); CoreWeave funds the additional capex beyond that USD“Core Scientific is responsible for funding $104 million of the additional required capex ($1.5M per MW), with CoreWeave responsible for the additional capex associated with the expansion”Company · Feb. 2025 · grade B
- HPC hosting contracts (CoreWeave): termination No site-level termination or cancellation clause is disclosed in the 10-K or the releases opened, and the CoreWeave contracts are not filed as exhibits, absence recorded as“occurrence of any event, change or other circumstance that could give rise to the termination of the contracts with CoreWeave”Company · Feb. 2025 · grade B
- Financing: >$14B potential base contracted revenue under the AMD and Neocloud leases (five sites, company figure) USD“The deal totals more than $14 billion of potential base contracted revenue, according to Core Scientific”News report · July 2026 · grade C
- data center leases (AMD Leases): site allocation Pecos, TX allocation: 185 MW of critical IT capacity (within the 377 MW AMD Leases) MW“In Texas, AMD is set to lease 185MW in Pecos and 110MW in Hunt County”News report · July 2026 · grade C
- data center leases (AMD Leases): rent escalator 2.5% annual escalators on the AMD contracts (per the Q2 2026 earnings call, as reported) %/yr“Annual escalators on the AMD contracts are set at 2.5 percent per year, according to Core Scientifics Q2 2026 earnings call”News report · July 2026 · grade C
- Core Scientific shareholders rejected the CoreWeave all-stock acquisition (announced value about $9B); the company remained independent“In October 2025, shareholders voted against an all-stock offer from CoreWeave that would have valued the company at roughly $9 billion”News report · July 2026 · grade C
Permits and government (11)
- Core Scientific, Inc., 1851 FM 2119, Pecos, Reeves County TX (31.5335,-103.80075: Construction stormwater NOI coverage issued (TXR150000 general permit)“CORE SCIENTIFIC, TXR1592WY, Stormwater, PECOS, ISSUED PERMIT; issued to Core Scientific, Inc., 1851 FM 2119.”State agency · Jan. 2026 · grade A
- CORE SCIENTIFIC, INC - OSHA inspection at the campus construction site (1851 FM 2119, AUSTIN, TX 78701). activity nr 347114555; opened Nov. 20, 2023; closed Jan. 23, 2024; type C (Referral); scope B (Partial); NAICS 236210; re“CORE SCIENTIFIC, INC | 1851 FM 2119 | AUSTIN | TX | 78701 | 2023-11-20 | C | B”State agency · Nov. 2023 · grade A
- R&G METAL BUILDING - OSHA inspection at the campus construction site (1939 FM 2119, PECOS, TX 79772). activity nr 346423643; opened Jan. 9, 2023; closed Jan. 17, 2023; type F (FollowUp); scope B (Partial); NAICS 238160; relat“R&G METAL BUILDING | 1939 FM 2119 | PECOS | TX | 79772 | 2023-01-09 | F | B”State agency · Jan. 2023 · grade A
- R&G METAL BUILDING - OSHA inspection at the campus construction site (1939 FM 2119, PECOS, TX 79772). activity nr 346054471; opened June 30, 2022; closed Jan. 12, 2026; type C (Referral); scope B (Partial); NAICS 238160; relat“R&G METAL BUILDING | 1939 FM 2119 | PECOS | TX | 79772 | 2022-06-30 | C | B”State agency · June 2022 · grade A
- Air permit (on-site generation): none found (checked)“positive controls present (GW Ranch 181033, Kilby 181895, Poolside 183235)”State agency · Oct. 2026 · grade B
- FAA obstruction evaluation (7460-1): Determined - No Hazard“ASN 2026-ASW-17109-OE: Project Rodeo, Mobile Crane, 387 ft AGL, 3413 ft AMSL, 31.53143,-103.79851, Determined - No Hazard, submitted 2026-10-15”FAA · Oct. 2026 · grade B
- transmission upgrade (TPIT): Conceptual“Taurus: Construct New 345 kV Station. Interconnect TNMP data center load to the new Taurus 345 kV station on the Solstice to Sand Lake 345 kV line.”Dataset · July 2026 · grade B
- Opposition: none found“Council declines to consider Pecos Data Park resolution after conflict, disclosure concerns”News report · Oct. 2026 · grade C
- Town of Pecos City Council declined to consider a Pecos Data Park (Project Keystone) Chapter 380 negotiating resolution amid conflict/disclosure concerns, a DIFFERENT project, not Core Scientific; logged to prevent conf“Staff framed the proposed Pecos Data Park (Project Keystone) and a negotiating framework for public benefits; the council voted to not consider the resolution as presented”News report · Oct. 2026 · grade C
- Gov. Abbott ordered an audit/verification of data centers in the ERCOT large-load process; no additional data center approvals to move forward until verification completes (press-reported), timing risk for the Pecos stu“Texas Governor Greg Abbott then ordered an audit of the data centers moving through ERCOTs large-load interconnection process on August 3, 2026”News report · Sept. 2026 · grade C
- 8-K discloses conditional ERCOT Batch Zero classifications: Pecos 300 MW base load Pathway (b) plus 300 MW studied load; 1,402 MW across the three Texas sites“Core Scientific reported conditional ERCOT approvals covering up to 1,402 MW of electrical power across three existing and proposed Texas data-center sites”News report · Sept. 2026 · grade C
Site and other (17)
- Developer: Core Scientific, Inc. (Nasdaq: CORZ)“Core Scientific, Inc. (Exact name of registrant as specified in its charter)”SEC filing · July 2026 · grade A
- Construction status: Conversion under way at the filing date: 'the first data hall has reached a critical construction milestone, with its interior foundational footings set', precast concrete walls arriving on site, mor“the first data hall has reached a critical construction milestone, with its interior foundational footings set”SEC filing · April 2026 · grade A
- Announced: Aug. 11, 2022“Continued Progress on Three Texas Data Center Projects Barstow, TX Pecos, TX”SEC filing · Aug. 2022 · grade A
- Site acres: 49.9 acresMeasured on OpenStreetMap map data.
- County code: 48389“buildings: Reeves County County TX (48389)”Dataset · Oct. 2026 · grade B
- Hyperscaler exclusivity process covering Pecos and Muskogee expired without a deal; three other hyperscalers engaged on the same sites, Pecos still unleased at this date“we were engaged in an exclusivity process with a hyperscaler across Pecos and Muskogee. That exclusivity is now expired, however, three other hyperscalers immediately engaged on those same sites”Company · May 2026 · grade B
- Acres: 200+ acres“To support this planned expansion, Core Scientific has secured more than 200 acres of land”Company · April 2026 · grade B
- Construction stage: vertical“The first data hall has reached a critical construction milestone, with its interior foundational footings set; precast concrete walls are arriving on site”Company · April 2026 · grade B
- Original target date: early 2027 (initial AI hosting capacity)“The site is currently available for lease, with initial capacity still expected in early 2027”Company · April 2026 · grade B
- Chips: AMD Instinct GPUs, EPYC CPUs, ROCm software (at AMD-leased capacity)“Core Scientific and AMD will collaborate on physical infrastructure design and the deployment of AMD Instinct GPUs, Epyc CPUs, and ROCm software”News report · July 2026 · grade C
- Aliases: Cottonwood 1 & 2 (existing developments on the site)“The site, currently hosting Cottonwood 1 & 2 developments, is located at 1939 Farm to Market 2119 in Reeves County and launched in 2022”News report · April 2026 · grade C
- Address: 1939 Farm to Market 2119, Pecos, TX“located at 1939 Farm to Market 2119 in Reeves County”News report · April 2026 · grade C
- County: Reeves County, Texas“located at 1939 Farm to Market 2119 in Reeves County”News report · April 2026 · grade C
- Original site launch: 2022 (bitcoin mining campus)“The site, currently hosting Cottonwood 1 & 2 developments, is located at 1939 Farm to Market 2119 in Reeves County and launched in 2022”News report · April 2026 · grade C
- Site launched as a bitcoin mining campus (Cottonwood 1 & 2 developments), 1939 FM 2119, Reeves County“The site, currently hosting Cottonwood 1 & 2 developments, is located at 1939 Farm to Market 2119 in Reeves County and launched in 2022”News report · April 2026 · grade C
- County: Reeves“The site, currently hosting Cottonwood 1 & 2 developments, is located at 1939 Farm to Market 2119 in Reeves County and launched in 2022”News report · 2026 · grade C
- Development stage: operating and expanding“Initial capacity for AI hosting is expected to go live in early 2027”News report · 2026 · grade C
Imagery and records: Satellite imagery: Maxar via Esri World Imagery Wayback; Sentinel-2 (ESA Copernicus).