In a significant expansion of their partnership, cloud computing provider CoreWeave has exercised an option to receive additional infrastructure from Bitcoin miner Core Scientific, adding $1.225 billion to the initial agreement.
This decision enhances Core Scientific’s revenue prospects and reinforces its role in the evolving tech landscape.
Core Scientific will upgrade its facilities in Austin, Texas, to provide 70 MW of infrastructure for CoreWeave starting in the latter half of 2025.
This is in addition to the 200 MW planned in an earlier $3.5 billion deal signed in June.
The company is ahead of schedule in preparing for this expansion, showcasing its efficiency and forward planning.
Adam Sullivan, CEO of Core Scientific, emphasized the importance of designing future-proof data centres capable of supporting next-generation computing needs.
He highlighted the company’s commitment to expanding its hosting business and enhancing its earnings potential, all while continuing to grow its crypto mining operations.
The move aligns with a broader trend in the industry where companies are looking to artificial intelligence (AI) to diversify and boost revenue.
Following Bitcoin’s latest halving, AI presents new opportunities for miners.
Canadian miner Hive Digital Technologies, for example, reported an 8% revenue increase in its latest financial results, attributing part of its success to expanding services in high-performance computing (HPC) for gaming, AI, and graphics rendering.
