Core Scientific has revealed that Coreweave has chosen to expand its high-performance computing (HPC) infrastructure by another 120 megawatts (MW), pushing the total contracted capacity to around 500 MW. Core Scientific and Coreweave Extend Partnership This contract extension could bring Core Scientific’s (Nasdaq: CORZ) total revenue up to $8.7 billion over the next 12 years.…
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Core Scientific, Inc., a prominent digital infrastructure provider for bitcoin mining, has revealed its intent to issue $350 million in convertible senior notes. This offering is anticipated to close in September 2029, with the raised capital earmarked primarily for debt repayment and other corporate necessities. Core Scientific Unveils Convertible Notes Offering, Eyes Debt Repayment On…
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Core Scientific, a large U.S.-based bitcoin mining and hosting provider, and Block, a leading financial services firm, have partnered in a project to integrate the first 3nm bitcoin mining chips produced by the latter. Core Scientific will receive 15 exahash per second (EH/s) of Block’s mining ASIC chips, with the possibility of ordering additional silicon…
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Global investment bank JPMorgan has observed a notable surge in investor interest in bitcoin miners after Core Scientific announced it would host 200 MW of GPUs for AI hyperscaler Coreweave. According to JPMorgan, the combined market capitalization of 14 tracked miners has increased by $4 billion since the announcement. This rise occurred even as bitcoin…
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Core Scientific announced its financial results for the first quarter of 2024, highlighting a significant recovery with a net income of $211 million. According to its latest press release, Core Scientific’s performance this quarter marked a notable improvement from the previous year’s figures. The company attributed this turnaround to an increase in revenue generated from…
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Core Scientific announced a significant recovery in its financial performance for the first quarter of 2024, reporting a net income of $210.7 million, a stark contrast to the net loss of $0.4 million from the same period last year, driven by an increase in Bitcoin mining and hosting services. The company mined 2,825 bitcoins in…
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With just over three days remaining until the halving, Core Scientific has announced its plans to enhance its Texas mining facility by an additional 72 megawatts. This project is scheduled for completion by the end of the second quarter of 2024. This expansion aims to augment the company’s existing hashpower capacity. Core Scientific Plans for…
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Core Scientific has received the go-ahead from bankruptcy court for its reorganization, paving the way for the bitcoin mining giant to relist its shares on Nasdaq. Core Scientific Set for a Major Turnaround Core Scientific, Inc., a major bitcoin miner, is about to emerge from Chapter 11 bankruptcy. In a press release on their website,…
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Digital asset miner Core Scientific announced a new partnership with Bitmain, a major player in the supply of Bitcoin mining and Artificial Intelligence (AI) computing hardware. As part of the deal, Bitmain will invest $53.9 million in the company expanding their long-standing relationship…. Read More: Bitmain to Invest $54 Million in Bankrupt Bitcoin Mining Company…
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Though subject to court approval, the two firms have agreed on a settlement in which Celsius will purchase a $45-million mining data center from Core Scientific for $14 million. Crypto mining firm Core Scientific has announced an agreement with lending company Celsius Network to settle a legal battle that had been ongoing for months. In…
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