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.
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