PANews reported on June 4 that according to The Block, Bitcoin mining company Core Scientific announced a 12-year contract with AI supercomputing company CoreWeave. The contract is expected to generate an average annual revenue of approximately US$290 million for Core Scientific, and the total cumulative revenue over the 12-year period will exceed US$3.5 billion.
Core Scientific plans to provide 200 megawatts of infrastructure and convert existing sites to accommodate CoreWeave operations. The mining company said it expects to have the sites ready for operation in the first half of 2025.