Key Takeaways:
- Core Scientific is enhancing its mining facilities with an additional 70 MW of infrastructure in Austin, Texas, by late 2025, supported by a $1.225 billion commitment from CoreWeave.
- The expanded partnership with CoreWeave brings the total agreement to $4.725 billion over 12 years, strengthening Core Scientific’s application-specific data centers (ASDCs) and hosting business.
- Core Scientific is exploring AI applications for new revenue streams post-Bitcoin halving, while Hive Digital Technologies reported an 8% year-on-year revenue increase, expanding HPC services in Canada, Iceland, and Sweden.
Core Scientific is enhancing its mining facilities to seize new opportunities, bolstered by a strengthened partnership with CoreWeave.
CoreWeave has increased its GPU infrastructure commitment by $1.225 billion, expanding the agreement to a total of $4.725 billion over 12 years.
Today, we announced a new contract with @CoreWeave for the delivery of ~70 MW of additional infrastructure to host #HPC operations.
— Core Scientific (@Core_Scientific) June 25, 2024
Read the full press release here: https://t.co/FqHqy6g7Yz pic.twitter.com/SOhCxqNKyM
This deal will see Core Scientific upgrade its Austin, Texas facilities with an additional 70 MW of infrastructure by late 2025, complementing the previously planned 200 MW.
Core Scientific’s CEO, Adam Sullivan, highlighted their strategy to develop application-specific data centers (ASDCs) and boost their hosting business and crypto mining capacity.
Additionally, Core Scientific is exploring AI applications for new revenue streams post-Bitcoin halving.
Core Scientific Announces New Contract with CoreWeave for Delivery of Approximately 70 MW of Additional Infrastructure to Host High-Performance Computing Operations @Core_Scientific https://t.co/708Zk65bx6
— Eric Weiss ⚡️ (@Eric_BIGfund) June 25, 2024
Meanwhile, Canadian miner Hive Digital Technologies reported an 8% year-on-year revenue increase, focusing on expanding HPC services for AI, gaming, and graphics rendering across its facilities in Canada, Iceland, and Sweden.
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