Core Scientific (Corz) shares increased more than 11% after the market on Wednesday after the Data Center and the Bitcoin mining company said it was planning an expansion of $ 1.2 billion of a data center in Denton, Texas, with Coreweave, to support artificial intelligence (AI) and the high -performance cloud computer (HPC).
“The 70 MW [megawatt] Additional contracted energy at the Denton site increases the full criticism load to approximately 260 MW, “according to a statement.
“The agreement increases the HPC infrastructure contracted total of Coreweave with Core Scientific to approximately 590 MW in six sites. We believe that this addition is aligned with the growing need for coreweave of robust infrastructure and high density to support GPU NVIDIA operations.”
Read more: Bitcoin miners are turning AI to survive. Core Scientific entered the race years ago
The expansion is based on an association between the two companies, which focuses on implementing advanced computer solutions on scale. Core Scientific said the company is “actively looking for additional sites to expand its HPC housing capacity”, supporting the growing demand for data centers that can accommodate and admit computer power for HPC and AI machines.
“With more than $ 10 billion in possible cumulative revenues with Coreweave, we believe that Core Scientific is strategically positioned to capitalize on the growing demand for specific data of the dense application in energy,” said the statement.
Bitcoin miners have been changing some of their computer powers to AI to diversify their sources of income, since competition in the mining industry has become intense after the recent half event and the increase in energy costs.
Coreweave, a cloud supplier specialized in work loads based on AI and GPU, has quickly been climbing its infrastructure to support the growing business demand.
Read more: AI is here, but that does not mean that Bitcoin miners are finished
Discharge of responsibility: parts of this article were generated with the assistance of the AI tools and reviewed by our editorial team to guarantee the precision and compliance with our standards. For more information, see Coindesk’s complete policy.
