Core Scientific plans to supply 200 megawatts of infrastructure and revamp its existing sites to accommodate AI firm CoreWeave’s operations.
North American bitcoin mining and hosting services provider Core Scientific announced today that it signed a series of 12-year contracts with AI Hyperscaler CoreWeave.
“Our expanding relationship with CoreWeave creates a pathway for Core Scientific to diversify our business model and balance our portfolio between bitcoin mining and alternative compute hosting, positioning us to maximize cash flow and minimize risk while maintaining our significant exposure to bitcoin’s upside potential,” Core Scientific CEO Adam Sullivan said in the release.
Under the contract, CoreWeave will fund all the capital investments needed to modify Core Scientific's existing infrastructure. To offset the cost, CoreWeave plans to credit Core Scientific an estimated $300 million, which will be gradually deducted from their monthly hosting fees.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Win a Flexus Core 200 soundbar in Klipsch’s X-Men ’97 contestDT Video
Read more »
Body of 4-year-old boy recovered from floodwaters amid more than 200 rescues across TexasThe death is the first reported fatality following storms that have prompted disaster declarations for over a third of the state's counties.
Read more »
London's 200-year-old Garrick Club finally to allow women membersLondon's elite Garrick Club voted to allow women to join for the first time since being founded in 1831, responding to growing public pressure to end its archaic all-male setup.
Read more »
Researchers Solve 200-Year Mystery by Putting Mini Backpacks on BirdsResearchers now discovered where a giant hummingbird goes after breeding, solving a 200-year mystery.
Read more »
Claudia Sheinbaum elected as Mexico's first woman president in country's 200-year historyMexico's projected presidential winner Claudia Sheinbaum will become the first woman president in the country's 200-year history.
Read more »
GBP/JPY Price Analysis: Rolls over after touching multi-year highs above 200GBP/JPY rallies up to 200.65 on Monday just short of multi-year highs (May 29) and then pulls back.
Read more »