According to TechFlow, Core Scientific, one of the largest Bitcoin mining companies in the United States, is betting on artificial intelligence to meet the challenges brought by the recent Bitcoin halving. They have reached a $3.5 billion deal with CoreWeave, an artificial intelligence cloud service provider, to provide the latter with an additional 200 megawatts of infrastructure to host high-performance computing operations.

The deal is expected to generate more than $3.5 billion in total cumulative revenue for Core Scientific over the initial 12-year term of the contract. In addition, Core Scientific has leased 18% of its total infrastructure to CoreWeave, which recently raised $7.5 billion in debt funding from Blackstone, Magnetar and Coatue at a valuation of $19 billion. Core Scientific's moves are intended to find additional revenue streams to sustain its operations amid pressure from the fourth Bitcoin halving.