btc
Bitcoin (BTC)
$82,982.00 -0.77%
Bitcoin price
eth
Ethereum (ETH)
$1,902.79 -0.15%
Ethereum price
bnb
BNB (BNB)
$629.75 0.23%
BNB price
sol
Solana (SOL)
$124.42 -3.47%
Solana price
xrp
XRP (XRP)
$2.28 -3.16%
XRP price
shib
Shiba Inu (SHIB)
$0.0000127 -5.25%
Shiba Inu price
pepe
Pepe (PEPE)
$0.0000072 6.76%
Pepe price
bonk
Bonk (BONK)
$0.0000107 -0.82%
Bonk price
wif
dogwifhat (WIF)
$0.48 0.1%
dogwifhat price
popcat
Popcat (POPCAT)
$0.19 1.09%
Popcat price
btc
Bitcoin (BTC)
$82,982.00 -0.77%
Bitcoin price
eth
Ethereum (ETH)
$1,902.79 -0.15%
Ethereum price
bnb
BNB (BNB)
$629.75 0.23%
BNB price
sol
Solana (SOL)
$124.42 -3.47%
Solana price
xrp
XRP (XRP)
$2.28 -3.16%
XRP price
shib
Shiba Inu (SHIB)
$0.0000127 -5.25%
Shiba Inu price
pepe
Pepe (PEPE)
$0.0000072 6.76%
Pepe price
bonk
Bonk (BONK)
$0.0000107 -0.82%
Bonk price
wif
dogwifhat (WIF)
$0.48 0.1%
dogwifhat price
popcat
Popcat (POPCAT)
$0.19 1.09%
Popcat price
btc
Bitcoin (BTC)
$82,982.00 -0.77%
Bitcoin price
eth
Ethereum (ETH)
$1,902.79 -0.15%
Ethereum price
bnb
BNB (BNB)
$629.75 0.23%
BNB price
sol
Solana (SOL)
$124.42 -3.47%
Solana price
xrp
XRP (XRP)
$2.28 -3.16%
XRP price
shib
Shiba Inu (SHIB)
$0.0000127 -5.25%
Shiba Inu price
pepe
Pepe (PEPE)
$0.0000072 6.76%
Pepe price
bonk
Bonk (BONK)
$0.0000107 -0.82%
Bonk price
wif
dogwifhat (WIF)
$0.48 0.1%
dogwifhat price
popcat
Popcat (POPCAT)
$0.19 1.09%
Popcat price

Core Scientific and CoreWeave announce $1.2B expansion in Texas to power AI growth

Ankish Jain
Edited by
News
Core Scientific and CoreWeave announce $1.2B expansion in Texas to power AI growth

Core Scientific has announced a $1.2 billion expansion of its Denton, Texas, data center in partnership with artificial intelligence-focused cloud provider CoreWeave. 

According to Core Scientific’s Feb. 26 press release, the agreement adds 70 megawatts of contracted power, bringing the site’s total critical information technology load to 260 MW. Across six locations, CoreWeave now has 590 MW of infrastructure contracted with Core Scientific, reflecting the rising demand for AI and general processing unit-powered computing.

Core Scientific chief executive officer Adam Sullivan noted that the expansion will strengthen the company’s position as a leader in AI-focused digital infrastructure.

“By expanding our capacity in Denton, we’re building one of the largest GPU supercomputers in North America — reinforcing Core Scientific’s leadership in delivering high-density, high-performance digital infrastructure. ”

– Adam Sullivan, Core Scientific CEO

Core Scientific has been shifting part of its computing resources toward AI, as Bitcoin Bitcoinbtc-0.77% Bitcoin miners look for alternative revenue sources amid higher energy costs and the 2024 halving event which slashed miner rewards by half. With billions in projected cumulative revenue from CoreWeave, Core Scientific is betting on AI and high-performance computing as key drivers of growth.

The company expects $10.2 billion in total revenue over 12-year contract terms. Under the agreement, Core Scientific will fund $104 million in capital expenditures, while CoreWeave will cover additional costs. Core Scientific will have a long-term stake in AI infrastructure thanks to the agreement’s two optional five-year renewal options. 

The company intends to use 400 MW of its 1.3 gigawatts of contracted power for Bitcoin mining activities and 900 MW for HPC hosting. To strengthen its position as a significant player in the data center sector, Core Scientific is also actively looking for new locations to increase its AI and cloud computing capabilities.