Artificial Intelligence Partnership from the Giant US Bitcoin Miner: The Price Soared by 37 Percent!
Core Scientific, one of the world's largest Bitcoin miners, was bullish on its agreement with the artificial intelligence-focused company.
North American Bitcoin miner Core Scientific announced today that it has signed a 12-year contract with artificial intelligence company Hytperscaler Coreweave.
The Bitcoin company, which is listed on the US stock exchange Nasdaq, plans to generate a total of $3.5 billion in revenue, corresponding to $290 million annually, within the scope of the agreement.
Core Scientific CEO Adam Sullivan made the following statement on the subject:
Our growing relationship with CoreWeave opens a way to diversify our business model, balancing Bitcoin mining with alternative transaction hosting. In this way, we are in a position to maximize cash flow while minimizing risk and continuing to benefit significantly from Bitcoin's upward potential.
In parallel with the agreement, CoreWeave will cover all the costs required to replace Core Scientific's existing infrastructure.
According to Google Finance data, Core Scientific's share, CORZ, listed on Nasdaq, started to fly with the opening of the market. CORE, which closed at $4.87 yesterday, reached $6.70 with a 37% increase.
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