Core Scientific to Provide CoreWeave up to 16 MW of Data Center Infrastructure to Support AI and HPC Workloads in Long Term Hosting Contract with Potential Revenue of More than $100 Million
- Strategic extension of data center hosting business levers Core Scientific’s expertise in high value compute to broaden revenue model to customers engaged in rapidly growing High-Performance Computing (“HPC”)
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Core Scientific leases
Austin, TX data center formerly housing Hewlett Packard; provides basis for potential growth opportunities with expanded infrastructure - The Company expects this contract to be accretive to 2024 earnings
Core Scientific is a leader in bitcoin mining and digital infrastructure for emerging high-value compute (Graphic: Core Scientific)
Under the terms of the contract, Core Scientific will deliver up to 16 MW of capacity at its new
“CoreWeave delivers massive scale GPU compute resources on top of the industry's fastest and most flexible infrastructure,” said Michael Intrator, CoreWeave CEO. “Our strong business relationship with Core Scientific is based on years of demonstrated responsiveness, high uptime data centers, professionalism and trust. Both companies share a core belief in accelerating innovation, which our collaboration will help to achieve in rapidly growing applications in AI and high-performance computing.”
“At Core Scientific, we deploy our unique asset base strategically to achieve our mission: to accelerate digital innovation by scaling high-value compute rapidly, efficiently and responsibly,” said Core Scientific CEO, Adam Sullivan. “Our new data center in
Core Scientific hosted CoreWeave’s GPU processing hardware in its data centers from 2019 through 2022. Core Scientific operates more than 300 MW of energized infrastructure in proximity to major metropolitan areas and with access to high-bandwidth telecommunications infrastructure, both necessary requirements to support GPU cloud compute workloads.
“We believe today’s Core Scientific has the valuable ability to flex our asset base in order to maximize revenue and earnings. Our diversified business model and leading scale enable us to continue operating as a low-cost bitcoin miner while also expanding our hosting customer base and diversifying our earnings streams,” added Sullivan.
As of January 31, 2024, Core Scientific operated seven data centers in five
ABOUT CORE SCIENTIFIC
Core Scientific is one of the largest bitcoin miners and hosting solutions providers for bitcoin mining in
FORWARD-LOOKING STATEMENTS AND EXPLANATORY NOTES
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Source: Core Scientific, Inc.
