CORZ - Why Core Scientific Shares Are Up | Benzinga
Core Scientific, Inc. (NASDAQ:CORZ) shares are trading higher Tuesday after the company announced the signing of a series of 12-year contracts with CoreWeave.
The Details:
Under the terms of the agreements, Core Scientific will deliver approximately 200 megawatts (MW) of infrastructure to host CoreWeave’s high-performance compute (HPC) operations.
Core Scientific will modify multiple existing, owned sites to host CoreWeave’s NVIDIA GPUs with site modifications expected to commence early in the second half of 2024 and achieve operational status in the first half of 2025.
Once operational, Core Scientific expects the project to generate total cumulative revenue of over $3.5 billion during the initial 12-year terms of the contracts with the estimated average annual revenue of approximately $290 million.
Related News: What’s Going On With Greenwave Technology Stock?
“Our new contracts with CoreWeave position us ...