Core Scientific expects that its AI collaboration with CoreWeave will generate $3.5 billion over 12 years from renting out 18% from its infrastructure.
Core Scientific, one of the largest Bitcoin mining companies in the United States, is betting on artificial intelligence (AI) amid challenges associated with the most recent BTC halving.
Core Scientific took to X on June 3 to announce a $3.5 billion deal with AI cloud provider CoreWeave. As part of the contract, Core Scientific will provide an additional 200 megawatts (MW) of infrastructure to host CoreWeave’s high-performance computing (HPC) operations.
The announcement says that the deal is expected to generate total cumulative revenue for Core Scientific of over $3.5 billion during the initial 12-year terms of the contracts. The estimated average annual revenue from the contracts is expected to be roughly $290 million.
