Bitcoin miner Core Scientific to deliver additional 112 megawatts to CoreWeave

By RT Watson • Edited by Jason Shubnell
Business•August 6, 2024, 10:11AM EDT
UPDATED: August 6, 2024, 10:15AM EDT
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Bitcoin miner Core Scientific to deliver additional 112 megawatts to CoreWeave

Quick Take

  • “Core Scientific will modify its infrastructure to deliver approximately 112 incremental MW … to host CoreWeave’s NVIDIA GPUs,” the miner said in a statement.
  • Core Scientific’s stock was up more than 14% in early trading.
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Bitcoin miner Core Scientific has once again announced it will supply additional power to host CoreWeave’s high-computing operations.

"Core Scientific will modify its infrastructure to deliver approximately 112 incremental MW ... to host CoreWeave’s NVIDIA GPUs," the miner said in a statement on Tuesday. In late June, the company said it would supply an additional 70 MW to host CoreWeave’s high-computing operations.

CoreWeave will now be receiving a total of 382 megawatts of high-performance computing infrastructure, according to Core Scientific's statement. CoreWeave has "one remaining option for 118 megawatts," according to Core Scientific.

When Core Scientific announced its contract with CoreWeave in June it said it expected the agreement would generate, on average, approximately $290 million in annual revenue and more than $3.5 billion in total revenue over the 12 years.

Shares of Core Scientific (ticker CORZ) were up about 14% to $9.38 at publication time.