Core Scientific is trading coins for tokens, revealing plans on Monday to convert a 300-megawatt bitcoin mining operation in Pecos, Texas, to an 1.5 gigawatt AI datacenter campus.

Core Scientific is one of several companies racing to switch from crypto mining to token farming before the bubble bursts, and recently announced plans to sell $3.3 billion of junk bonds to help facilitate the move. CoreWeave, which has previously contracted with Core Scientific to use capacity at its datacenter in Denton, Texas, and Crusoe are two of the most recognizable converts in the field.

The bitcoin miner turned AI bit barn builder began construction of the new facility earlier this year, with the first new data hall expected to come online in early…