Bitcoin miner Core Scientific (CORZ) announced the signing of a high-performance computing (HPC) contract with CoreWeave after the miner said it would provide CoreWeave with 200MW worth of GPU hosting infrastructure, with the option to further increase capacity. Subsequently, the two companies scaled up the deal by 70MW, making this new deal the third extension. The miner now expects the new contract to add about $2 billion in additional revenue during the contract's valid period beginning in the first half of 2026, bringing total revenue to $6.70 billion.
Core Scientific shares surged 17% on Tuesday, outperforming other cryptocurrency-related stocks.
Core Scientific signs new hosting deal with CoreWeave, expected to add $2 billion in additional revenue
2024-08-06 17:58:17
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