Core Scientific Secures $3.5B AI Partnership, Boosting Stock and Infrastructure

Bitcoin miner Core Scientific is diversifying into AI, signing a 12-year deal with cloud provider CoreWeave to provide infrastructure for AI workloads, expected to generate over $3.5 billion in revenue. This move comes as demand for AI infrastructure surges and bitcoin mining profitability declines. Core Scientific, which emerged from bankruptcy in January, aims to retrofit its facilities to support high-performance computing, leveraging its access to large amounts of power. Other miners like Bit Digital, Hive, and Hut 8 are also expanding into AI to boost revenue.