Core Scientific Inc.
Core Scientific Expands Contract with CoreWeave for High-Performance Computing Infrastructure
Summary
On October 22, 2024, Core Scientific, Inc. announced that CoreWeave, an AI hyperscaler, exercised its final option to contract for additional infrastructure under the terms of their previously announced 200MW 12-year hosting contract. This will increase Core Scientific's total contracted HPC infrastructure with CoreWeave to approximately 500 Megawatts, with an expected additional cumulative revenue of $2.0 billion, bringing the total potential revenue from CoreWeave contracts to $8.7 billion over 12 years.
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About Core Scientific Inc.
Core Scientific Inc. is a leading provider of blockchain infrastructure and artificial intelligence-related services and solutions. This dynamic company primarily focuses on the development of high-performance data centers designed to support digital asset mining and blockchain networks. The firm operates vast and sophisticated facilities that offer hosting services, providing clients with the necessary infrastructure to mine cryptocurrencies, including Bitcoin. Core Scientific Inc. is deeply embedded within the technology and financial sectors, leveraging advanced computing environments that enable scalable, secure, and efficient processing of blockchain transactions. Founded on the principles of innovation and operational excellence, Core Scientific has positioned itself as a significant player in the growth of blockchain technology, impacting how digital currencies are mined and managed. Its role in the financial markets includes supporting the decentralized finance ecosystem and contributing to the broader adoption of cryptocurrencies by enhancing the technical framework required for their operation and legitimacy.
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