Core Scientific Secures $3.5B AI Partnership, Boosting Stock and Infrastructure
TL;DR
Bitcoin miner Core Scientific is diversifying into AI, signing a 12-year deal with cloud provider CoreWeave to provide infrastructure for AI workloads, expected to generate over $3.5 billion in revenue. This move comes as demand for AI infrastructure surges and bitcoin mining profitability declines. Core Scientific, which emerged from bankruptcy in January, aims to retrofit its facilities to support high-performance computing, leveraging its access to large amounts of power. Other miners like Bit Digital, Hive, and Hut 8 are also expanding into AI to boost revenue.
Topics:businessbusinesstechnology#artificial-intelligence#bitcoin-mining#businesstechnology#cloud-computing#core-scientific#nvidia
- Bitcoin miners sink millions into AI businesses, seeking billions in return CNBC
- Core Scientific’s stock pops as company will help hot AI player host Nvidia GPUs MarketWatch
- Core Scientific to Provide Approximately 200 MW of Infrastructure to Host CoreWeave's High-Performance Computing Services, Capturing Significant AI Compute Opportunity Yahoo Finance
- Bitcoin miner Core Scientific strikes $3.5B AI partnership Cointelegraph
- Core Scientific signs 12-year deal with AI firm, projects $3.5 billion total revenue The Block
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