Core Scientific expects that its AI collaboration with CoreWeave will generate $3.5 billion over 12 years from renting out 18% from its infrastructure.
Core Scientific, one of the largest Bitcoin mining companies in the United States, is betting on artificial intelligence amid challenges associated with thea $3.5 billion deal with AI cloud provider CoreWeave. As part of the contract, Core Scientific will provide an additional 200 megawatts of infrastructure to host CoreWeave’s high-performance computing operations.
The announcement says that the deal is expected to generate total cumulative revenue for Core Scientific of over $3.5 billion during the initial 12-year terms of the contracts. The estimated average annual revenue from the contracts is expected to be roughly $290 million.The infrastructure provided to CoreWeave accounts for a significant share of Core Scientific’s resources, accounting for about 18% of its total operating infrastructure.
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