Core Scientific, has announced a multi-year contract potentially worth over $100 million with CoreWeave, the top specialized GPU cloud provider.
Under the agreement, Core Scientific will supply up to 16 megawatts of data center capacity at its new Austin, Texas facility to host CoreWeave’s GPU infrastructure. This expands Core Scientific’s hosting business beyond Bitcoin mining into high-performance computing (HPC).
CoreWeave CEO Michael Intrator praised Core Scientific’s “responsiveness, high uptime data centers, professionalism and trust,” stating the companies share “a core belief in accelerating innovation” in AI and HPC applications.
Core Scientific CEO Adam Sullivan said the deal aligns with their mission to “accelerate digital innovation by scaling high-value compute rapidly, efficiently and responsibly.” It will support CoreWeave’s needs while diversifying Core Scientific’s hosting revenue across bitcoin mining and GPU cloud computing.
The companies previously partnered from 2019-2022 with Core Scientific hosting CoreWeave’s hardware. Core Scientific operates over 300 MW of infrastructure near metro areas with high-bandwidth telecom links, key for GPU cloud workloads.
This deal showcases Core Scientific’s “ability to flex our asset base” across bitcoin and HPC revenue streams, adding stability through earnings diversification.
Also Read: Core Scientific to Release Fiscal 2023 Earning on March 12th
