CoreWeave, a leading cloud computing provider, has expanded its agreement with Bitcoin miner Core Scientific by exercising an option to receive additional infrastructure for its NVIDIA graphics processing units (GPUs). This decision adds an additional $1.225 billion to the income Core Scientific is expected to receive from previous agreements.
As part of the agreement, Core Scientific will modify its facilities in Austin, Texas to provide 70 MW of infrastructure for CoreWeave starting in the second half of 2025, a month ahead of schedule. CoreWeave will fund the necessary capital investments, adding another 70 MW of infrastructure to the 200 MW agreed upon in June, which was valued at $3.5 billion over a 12-year term.
Adam Sullivan, CEO of Core Scientific, expressed his intentions to continue transforming and expanding their hosting business and earnings power, while also enhancing their crypto mining capacity.
In the wake of the latest Bitcoin halving, Core Scientific is not the only company looking to artificial intelligence for additional revenue. Canadian miner Hive Digital Technologies reported an 8% increase in revenue, totaling $114.5 million, for the financial year ending on March 31, and continues to expand its facilities to offer HPC services to companies in the gaming, artificial intelligence, and graphics rendering industries. Hive has facilities in Canada, Iceland, and Sweden, firmly establishing itself in the global boom in data center infrastructure.