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Crypto mining company Core Scientific signs new hosting agreement with CoreWeave, expects to increase revenue by $2 billion
2024-08-07 04:53
Odaily News Bitcoin miner Core Scientific (CORZ) said in a statement that it has exercised an option in a previous contract to host approximately 112 megawatts (MW) of additional GPUs for "AI hyperscale" company CoreWeave. The new contract takes effect in the first half of 2026 and is expected to add approximately $2 billion in additional revenue, bringing total revenue to $6.7 billion. The statement added that CoreWeave will cover all capital investment costs required to prepare Core Scientific's existing mining infrastructure for HPC. Core Scientific shares surged 17% on Tuesday, outperforming other cryptocurrency-related stocks. (CoinDesk)