Core Scientific, a leading Bitcoin mining company, has entered into a groundbreaking 12-year contract with AI hyperscaler CoreWeave. This monumental deal is expected to generate an average annual revenue of approximately $290 million for Core Scientific, with total revenue exceeding $3.5 billion over the 12-year period.

Under the terms of the agreement, Core Scientific will provide 200 megawatts of infrastructure and modify existing sites to accommodate CoreWeave's operations. These sites are expected to be operational by the first half of 2025, marking a significant milestone in the development of CoreWeave's infrastructure.

In a move to offset costs, CoreWeave has agreed to provide Core Scientific with approximately $300 million in funding, which will be gradually deducted from its monthly hosting fees. This strategic partnership is expected to benefit both parties, with Core Scientific gaining a significant revenue stream and CoreWeave securing the infrastructure it needs to scale its operations.

The partnership is a testament to the growing demand for AI and blockchain infrastructure, as well as the increasing importance of sustainable energy solutions. Core Scientific's commitment to providing 200 megawatts of infrastructure will not only support CoreWeave's operations but also contribute to the development of a more sustainable energy landscape.

In conclusion, the 12-year partnership between Core Scientific and CoreWeave is a significant development in the AI and blockchain industries. The deal is expected to generate significant revenue for both parties and contribute to the growth of sustainable energy solutions.