According to Foresight News, Bitcoin mining company Core Scientific has signed a 12-year contract with AI hyperscaler CoreWeave. The deal is expected to generate an average annual revenue of approximately $290 million for Core Scientific, with total revenue exceeding $3.5 billion over the 12-year period.
Core Scientific plans to provide 200 megawatts of infrastructure and modify existing sites to accommodate CoreWeave's operations. These sites are expected to be operational by the first half of 2025. To offset costs, CoreWeave plans to provide Core Scientific with approximately $300 million in funding, which will be gradually deducted from its monthly hosting fees.