Core Scientific Partners with AI Company
June 4, 2024
North American bitcoin mining and hosting provider Core Scientific has signed a 12-year contract with AI hyperscaler CoreWeave. This partnership diversifies Core Scientific’s business model between bitcoin mining and alternative computational hosting, aiming to maximize cash flow and minimize risk. The agreement is expected to generate approximately $290 million in average annual revenue, totaling over $3.5 billion in cumulative revenue over the 12-year period.
