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 amid challenges associated with thea $3.5 billion deal with AI cloud provider CoreWeave. As part of the contract, Core Scientific will provide an additional 200 megawatts of infrastructure to host CoreWeave’s high-performance computing 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.The infrastructure provided to CoreWeave accounts for a significant share of Core Scientific’s resources, accounting for about 18% of its total operating infrastructure.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TheBlock__ - 🏆 464. / 53 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Core Scientific sees revenue surge in 1Q24 after emerging from bankruptcyBitcoin miner Core Scientific has posted $150 million in revenue from digital asset mining in the first quarter of 2024, boosting its gross margin to 46% from 26% in the previous year.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Semler Scientific shares up 30% after adopting Bitcoin as treasury reserveAs part of the new treasury strategy, Semler Scientific purchased 581 Bitcoin for $40 million.
Source: Cointelegraph - 🏆 562. / 51 Read more »