Bitcoin mining firm Core Scientific updated its agreement with AI hyperscaler CoreWeave to provide the latter with 270 megawatts (MW) of total infrastructure access, according to a June 25 press release.
Core Scientific stated that CoreWeave exercised its option to contract for an additional 70 MW of infrastructure access, expanding on the existing 200 MW agreement for high-performance computing (HPC) hosting contracts from June 3.
Infrastructure modifications will be made by Core Scientific to provide the additional 70 MW of power and host CoreWeave’s NVIDIA GPUs.
The agreement also includes options for CoreWeave to access another 230 MW of infrastructure at different Core Scientific sites, potentially making Core Scientific one of the largest US data centers if the full contract is executed.
Site modifications are expected to commence in the latter half of 2024, with operations commencing in the latter half of 2025.
Projected revenue
Core Scientific anticipates $1.2 billion in cumulative revenue over the 12-year contract, in addition to $3.5 billion from previous agreements with CoreWeave.
CoreWeave will finance modifications to Core Scientific’s existing infrastructure, with $105 million associated with the new contract credited against hosting payments at a capped rate until full repayment, along with renewal options.
A previous press release mentioned a similar credit program worth $300 million.
Broader plans
Core Scientific CEO Adam Sullivan highlighted the firm’s capacity to design and build application-specific data centers for clients like CoreWeave pursuing high-density chip deployments.
Sullivan praised Core Scientific’s high-power infrastructure and experienced data center team for efficient operations, noting the early delivery of its Austin data center to CoreWeave.
Currently, Core Scientific can offer 500 MW of its 1.2 gigawatts of contracted power for HPC hosting.
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**Meta Description:** Core Scientific and CoreWeave update their agreement to include access to 270 MW of infrastructure, with projected revenue of $1.2 billion over 12 years. CEO Adam Sullivan discusses plans for future data centers and high-density chip deployments.
