Core Scientific announced a new contract with CoreWeave to deliver approximately 70 trillion watts of additional infrastructure to host high-performance computing operations.
The site remodel is expected to begin in the second half of 2024 and is expected to be operational in the second half of 2025. This new 12-year HPC escrow contract will further increase Core Scientific's exposure to multi-year dollar-denominated revenue from the contract. From revenue to gross margin, the new contract with CoreWeave is expected to enhance profitability and drive shareholder value, with cumulative revenue expected to increase by $1.225 billion over the 12-year contract term, while the previously announced contract with CoreWeave is expected to have cumulative revenue in excess of $3.50 billion.
Core Scientific signs new contract with CoreWeave
2024-06-25 19:34:50
Core scientific announced corewoven signed new contract delivered 70desk3cryptocurrencydesktopCrypto News
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