In late June, the company announced that it would provide an additional 70 megawatts to support CoreWeave’s high-computing operations. With this new announcement, CoreWeave will receive a total of 382 megawatts of high-computing infrastructure, according to Core Scientific. CoreWeave still has an option to receive an additional 118 megawatts.
“Core Scientific will modify its infrastructure to provide approximately 112 additional megawatts … to support CoreWeave’s NVIDIA GPUs,” the company said in a statement on Tuesday.
When Core Scientific announced the deal with CoreWeave in June, the company said it expected the deal to generate about $290 million in annual revenue and more than $3.5 billion in total revenue over 12 years.
Shares of Core Scientific (ticker: CORZ) were up about 14% to $9.38 at the time of this announcement.
Deal Highlights:
- Additional 112 Megawatts: Core Scientific will provide an additional 112 megawatts to support CoreWeave's NVIDIA GPUs.
- Total 382 Megawatts: CoreWeave will receive a total of 382 megawatts of high-end computing infrastructure.
- Option to Add 118 Megawatts: CoreWeave still has an option to add another 118 megawatts.
- Expected Revenue: The deal is expected to generate approximately $290 million in annual revenue and more than $3.5 billion in total revenue over 12 years.
- Shares up: Core Scientific shares rose about 14% following the announcement.
This information demonstrates Core Scientific's strong growth and commitment to providing high-performance computing infrastructure to partners while creating great value for shareholders.
The article Core Scientific Will Provide 112 Megawatts More to CoreWeave appeared first on Coin79 - Coin News Update and Crypto Investment Knowledge .
