Bitcoin Mining Firm Core Scientific Signs New Hosting Agreement with CoreWeave, Projected to Boost Revenue by $2 Billion
Publication Time:2024-08-07 02:01:05
Recently, the bitcoin mining firm Core Scientific announced a new hosting agreement with CoreWeave. Under the terms of the agreement, Core Scientific will provide a total of 200 megawatts of GPU hosting infrastructure services for CoreWeave. Furthermore, both parties agreed to increase the transaction size to 70 megawatts, marking their third extension of cooperation. It is expected that this new contract, which comes into effect in the first half of 2026, will bring Core Scientific an additional $2 billion in revenue, bringing the total potential revenue to $6.7 billion. This news prompted Core Scientific's stock to rise by 17% on Tuesday, significantly outperforming other stocks related to cryptocurrency.
Core Scientific
CoreWeave
High Performance Computing
Bitcoin Mining Firm
GPU Hosting