The post Core Scientific Signs $3.5 Billion, 12-Year Deal with AI Firm CoreWeave appeared first on Coinpedia Fintech News
Core Scientific, a leading North American bitcoin mining and hosting services provider, has entered into a 12-year contract with AI hyperscaler CoreWeave, projecting total revenue of more than $3.5 billion. This deal is expected to generate approximately $290 million annually. CEO Adam Sullivan has stated that this collaboration will allow Core Scientific to diversify its business model, balancing BTC mining with alternative compute hosting. Core Scientific has agreed to supply 200 megawatts of infrastructure and renovate existing sites to accommodate CoreWeave by mid-2025. Additionally, they will fund the necessary capital investments with a $300 million credit to CoreWeave, which will be deducted from the hosting fees.
