NVDA - AI And Bitcoin Mining: What Core Scientific's Unexpected Partnership With Nvidia-Backed AI Firm Coreweave Tells Us | Benzinga
Bitcoin (CRYPTO: BTC) miners are investing millions into artificial intelligence (AI) businesses, expecting billions in return as they diversify their operations.
What Happened: According to a CNBC report on Monday, Core Scientific Inc. (NASDAQ:CORZ), a Bitcoin mining company, announced a 12-year deal with cloud provider CoreWeave to provide infrastructure for AI use cases. This agreement is expected to generate more than $3.5 billion in revenue over the contract period.
CoreWeave, backed by AI chip giant Nvidia Corp. (NASDAQ:NVDA), rents out graphics processing units (GPUs), essential for training and running AI models. Core Scientific will provide about 200 megawatts of infrastructure to support CoreWeave’s operations.
Core Scientific, which emerged from bankruptcy in ...