Core Scientific signs new hosting agreement with CoreWeave, expected to generate an additional $2 billion

ChainCatcher news, Bitcoin mining company Core Scientific (CORZ) stated in a statement that it has exercised an option in a previous contract to host approximately 112 megawatts (MW) of additional GPUs for "artificial intelligence super-scale" company CoreWeave.

The new contract will take effect in the first half of 2026 and is expected to generate approximately $2 billion in additional revenue, bringing total revenue to $6.7 billion. The statement added that CoreWeave will bear all capital investment costs required to prepare Core Scientific's existing mining infrastructure for HPC.

Core Scientific's stock surged 17% on Tuesday, outperforming other cryptocurrency-related stocks.