The Core Scientific (Corz) stock climbed more than 11% after the market on Wednesday after the Data Center and the Bitcoin Mining Company said it was planning a $ 1.2 billion expansion of a data center in Denton, Texas, with the Coreweave, to support artificial intelligence (AI) and high-performance clud computing (HPC).
“The 70 MW (Megawatt) of further contracting power to the Denton site increases its full critical loading to approximately 260 MW,” According to a statement.
“The agreement increases the total contract of the HPC coreweave infrastructure with the main scientific at approximately 590 MW throughout the six sites. We believe this addition is aligned with the growing coreweave needs for stable, high-density infrastructure to support NVIDIA GPU operations.”
Read more: Bitcoin miners are pivoting in AI to survive. The main scientific went into racing year ago
Expansion generates a partnership between the two companies, focusing on deploying advanced computing computing solutions. The Core Scientific said the company is “actively looking for additional sites to expand the capacity of HPC -Host,” which supports growing demand for data centers that can pose and support computing strength for HPC and AI machines.
“With more than $ 10 billion in potentially combined income along with the coreweave, we believe the main scientific is strategically positioned to achieve growing demand for dense energy, data centers specific to the application,” the statement said.
Bitcoin miners have been shifting some of their computing powers to ai to diversify their revenue sources, as the competition in the mining industry has become intense following the recent halving event and rising electrical costs.
Coreweave, a cloud provider who specializes in AI and GPU -based workloads, has quickly evaluated its infrastructure to support the growing business demand.
Read more: Here’s AI, but it doesn’t mean that bitcoin miners are done
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