Core Scientific Signs Multi-Year Contract with CoreWeave

Core Scientific, a leading bitcoin mining and digital infrastructure provider, has recently announced a significant partnership with CoreWeave, a specialized GPU cloud provider. The agreement entails Core Scientific supplying up to 16 MW of data center infrastructure to CoreWeave, with potential revenue exceeding $100 million over the course of several years.

New Data Center in Austin, Texas

As part of the contract, Core Scientific will be providing the capacity at its new data center in Austin, Texas. This facility, which was previously occupied by Hewlett Packard, will be utilized to expand Core Scientific’s hosting business to include high-performance computing (HPC) in addition to its current bitcoin mining operations.

Collaboration and Innovation

CoreWeave CEO Michael Intrator has expressed praise for the strong business relationship between the two companies, highlighting Core Scientific’s responsiveness, high uptime data centers, professionalism, and trust as key factors in the collaboration. Both companies share a commitment to accelerating innovation, particularly in rapidly growing applications within AI and HPC.

Accelerating Digital Innovation

Core Scientific CEO Adam Sullivan emphasized the company’s mission to accelerate digital innovation by rapidly scaling high-value compute resources in an efficient and responsible manner. The new data center in Austin will support CoreWeave’s immediate needs while also expanding and diversifying Core Scientific’s hosting customer base across bitcoin mining and specialized GPU cloud compute.

Operational Capacity and Growth

As of January 31, 2024, Core Scientific operated seven data centers across five U.S. states, with a total operating capacity of 724 MW. The company’s growth strategy includes a significant expansion of its bitcoin mining infrastructure in Texas, equivalent to more than 20 exahash of mining capacity.

Driving Innovation in the Digital Infrastructure Industry

The partnership between Core Scientific and CoreWeave exemplifies the increasing demand for HPC and AI infrastructure within the digital infrastructure sector. As more companies look to leverage GPU computing and AI capabilities, collaborations like this one are likely to become more common, fostering innovation and growth in the industry.