Cryptocurrency mining company Core Scientific signs a 12-year AI agreement, expected total revenue of $3.5 billion

ChainCatcher news, North American Bitcoin mining and hosting service provider Core Scientific announced that it has signed a series of 12-year contracts with AI super-scale company CoreWeave. The agreement is expected to generate an average annual revenue of approximately $290 million, with total cumulative revenue exceeding $3.5 billion over the 12-year period.

According to the contract, CoreWeave will fund all capital investments required to modify Core Scientific's existing infrastructure. To offset costs, CoreWeave plans to provide Core Scientific with a loan of approximately $300 million, which will be gradually deducted from its monthly hosting fees.