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Crypto mining company Core Scientific signs new hosting agreement with CoreWeave, expected to increase revenue by $2 billion

Bitcoin mining company Core Scientific (CORZ) said in a statement that it has exercised the option in the previous contract to host approximately 112 megawatts (MW) of additional GPUs for "AI hyperscale" company CoreWeave.

The new contract will take effect from the first half of 2026 and is expected to add approximately $2 billion in additional revenue, bringing total revenue to $6.7 billion. The statement added that CoreWeave will cover all capital investment costs required for Core Scientific's existing mining infrastructure to prepare for HPC.

Core Scientific shares surged 17% on Tuesday, outperforming other cryptocurrency-related stocks. (CoinDesk)