CoreWeave, a cloud computing provider, has enhanced its agreement with Bitcoin miner Core Scientific by choosing to receive extra infrastructure for its NVIDIA graphics processing units (GPUs) in addition to the previously agreed upon capacity from June. This decision will bring an additional $1.225 billion to the income anticipated by Core Scientific from previous agreements.
In accordance with this option, Core Scientific will modify its facilities in Austin, Texas to provide 70 MW of infrastructure for CoreWeave in the latter half of 2025. Core Scientific is ahead of schedule in preparing to host CoreWeave capacity.
Core Scientific CEO Adam Sullivan stated, “We are committed to the continued growth and expansion of our hosting business and our revenue potential.” The company also aims to increase its crypto mining capacity.
In the wake of the recent Bitcoin halving, Core Scientific, along with other miners, is turning to artificial intelligence for new revenue streams. Canadian miner Hive Digital Technologies reported an 8% increase in revenue year-on-year, totaling $114.5 million for the financial year ending on March 31.
Hive is also expanding its facilities to offer high-performance computing (HPC) services to companies in the gaming, artificial intelligence, and graphics rendering industries, positioning itself as a key player in the global data center infrastructure boom.
Hive has facilities in Canada, Iceland, and Sweden, and continues to be a part of the growing Iranian Bitcoin mining industry.