Core Scientific and CoreWeave Announce $1.2 Billion Expansion at Denton, TX Site
Core Scientific (NASDAQ: CORZ) has expanded its partnership with CoreWeave through a new $1.2 billion agreement at its Denton, TX facility. The deal adds 70 MW of contracted power, bringing the site's total critical IT load to approximately 260 MW. CoreWeave's total contracted HPC infrastructure with Core Scientific now reaches about 590 MW across six sites.
The expansion increases Core Scientific's total projected revenue to $10.2 billion over 12-year contract terms. Core Scientific will invest $104 million ($1.5M per MW) in capital expenditure for the expansion, with CoreWeave covering additional costs. The agreement includes options for two five-year renewal terms.
Core Scientific's total contracted power of 1.3 gigawatts is allocated between 900 MW for HPC hosting and 400 MW for bitcoin mining operations. The company is actively seeking additional sites to expand its HPC hosting capacity, focusing on locations near major cities and fiber lines.
Core Scientific (NASDAQ: CORZ) ha ampliato la sua partnership con CoreWeave attraverso un nuovo accordo da 1,2 miliardi di dollari presso la sua struttura di Denton, TX. L'accordo aggiunge 70 MW di potenza contrattata, portando il carico critico totale del sito a circa 260 MW. L'infrastruttura HPC contrattata totale di CoreWeave con Core Scientific raggiunge ora circa 590 MW distribuiti su sei siti.
Questa espansione aumenta il fatturato totale previsto di Core Scientific a 10,2 miliardi di dollari su un contratto di 12 anni. Core Scientific investirà 104 milioni di dollari (1,5 milioni per MW) in spese in conto capitale per l'espansione, con CoreWeave che coprirà i costi aggiuntivi. L'accordo include opzioni per due rinnovi quinquennali.
La potenza contrattata totale di Core Scientific di 1,3 gigawatt è suddivisa tra 900 MW per l'hosting HPC e 400 MW per le operazioni di mining di bitcoin. L'azienda sta attivamente cercando ulteriori siti per espandere la sua capacità di hosting HPC, concentrandosi su località vicino a grandi città e linee in fibra ottica.
Core Scientific (NASDAQ: CORZ) ha ampliado su asociación con CoreWeave a través de un nuevo acuerdo de 1.2 mil millones de dólares en su instalación de Denton, TX. El acuerdo añade 70 MW de potencia contratada, llevando la carga crítica total del sitio a aproximadamente 260 MW. La infraestructura HPC contratada total de CoreWeave con Core Scientific ahora alcanza alrededor de 590 MW en seis sitios.
La expansión aumenta los ingresos totales proyectados de Core Scientific a 10.2 mil millones de dólares durante un contrato de 12 años. Core Scientific invertirá 104 millones de dólares (1.5 millones por MW) en gastos de capital para la expansión, con CoreWeave cubriendo costos adicionales. El acuerdo incluye opciones para dos renovaciones de cinco años.
La potencia contratada total de Core Scientific de 1.3 gigavatios se distribuye entre 900 MW para hosting HPC y 400 MW para operaciones de minería de bitcoin. La empresa está buscando activamente sitios adicionales para expandir su capacidad de hosting HPC, enfocándose en ubicaciones cerca de grandes ciudades y líneas de fibra óptica.
코어 사이언티픽 (NASDAQ: CORZ)는 텍사스 덴튼의 시설에서 코어위브와의 새로운 12억 달러 계약을 통해 파트너십을 확대했습니다. 이 계약은 70MW의 계약된 전력을 추가하여 사이트의 총 중요 IT 부하를 약 260MW로 증가시킵니다. 코어위브의 코어 사이언티픽과의 총 계약 HPC 인프라는 이제 6개 사이트에서 약 590MW에 달합니다.
이번 확장은 코어 사이언티픽의 총 예상 수익을 12년 계약 기간 동안 102억 달러로 증가시킵니다. 코어 사이언티픽은 확장을 위해 1MW당 150만 달러, 총 1억 400만 달러를 자본 지출로 투자할 것이며, 코어위브가 추가 비용을 부담합니다. 계약에는 5년 갱신 옵션이 두 번 포함되어 있습니다.
코어 사이언티픽의 총 계약 전력 1.3기가와트는 HPC 호스팅을 위한 900MW와 비트코인 채굴 작업을 위한 400MW로 배분됩니다. 이 회사는 주요 도시와 광섬유 라인 근처에 위치한 추가 사이트를 찾아 HPC 호스팅 용량을 확장하기 위해 적극적으로 노력하고 있습니다.
Core Scientific (NASDAQ: CORZ) a élargi son partenariat avec CoreWeave grâce à un nouvel accord de 1,2 milliard de dollars dans son installation de Denton, TX. Cet accord ajoute 70 MW de puissance contractée, portant la charge critique totale du site à environ 260 MW. L'infrastructure HPC contractée totale de CoreWeave avec Core Scientific atteint désormais environ 590 MW répartis sur six sites.
L'expansion augmente le chiffre d'affaires total projeté de Core Scientific à 10,2 milliards de dollars sur une période de contrat de 12 ans. Core Scientific investira 104 millions de dollars (1,5 million par MW) dans des dépenses d'investissement pour l'expansion, CoreWeave prenant en charge les coûts supplémentaires. L'accord comprend des options pour deux renouvellements de cinq ans.
La puissance contractée totale de Core Scientific de 1,3 gigawatt est répartie entre 900 MW pour l'hébergement HPC et 400 MW pour les opérations de minage de bitcoin. L'entreprise recherche activement d'autres sites pour étendre sa capacité d'hébergement HPC, en se concentrant sur des emplacements proches des grandes villes et des lignes de fibre optique.
Core Scientific (NASDAQ: CORZ) hat seine Partnerschaft mit CoreWeave durch eine neue Vereinbarung über 1,2 Milliarden Dollar in seiner Einrichtung in Denton, TX, erweitert. Der Vertrag fügt 70 MW an vertraglicher Leistung hinzu, wodurch die gesamte kritische IT-Belastung des Standorts auf etwa 260 MW steigt. Die gesamte vertragliche HPC-Infrastruktur von CoreWeave mit Core Scientific erreicht nun etwa 590 MW an sechs Standorten.
Die Expansion erhöht den voraussichtlichen Gesamtumsatz von Core Scientific auf 10,2 Milliarden Dollar über einen 12-Jahres-Vertrag. Core Scientific wird 104 Millionen Dollar (1,5 Millionen pro MW) in Investitionsausgaben für die Expansion investieren, während CoreWeave zusätzliche Kosten übernimmt. Die Vereinbarung umfasst Optionen für zwei fünfjährige Verlängerungen.
Die gesamte vertragliche Leistung von Core Scientific von 1,3 Gigawatt verteilt sich auf 900 MW für HPC-Hosting und 400 MW für Bitcoin-Mining-Operationen. Das Unternehmen sucht aktiv nach weiteren Standorten, um seine HPC-Hosting-Kapazität zu erweitern, wobei der Fokus auf Standorten in der Nähe großer Städte und Glasfaserleitungen liegt.
- Secured $1.2B additional contracted revenue
- Total projected revenue reaches $10.2B over 12-year terms
- Expanded critical IT load by 70 MW at Denton site
- CoreWeave partnership grows to 590 MW across six sites
- Contract includes two additional five-year renewal options
- Required $104M capital expenditure investment
- Significant dependency on single customer (CoreWeave)
Insights
Core Scientific's $1.2 billion expansion with CoreWeave represents a transformative deal that significantly enhances the company's revenue visibility and strategic positioning in the high-growth AI infrastructure market. This agreement brings their total contracted revenue with CoreWeave to an impressive $10.2 billion over 12 years, providing exceptional long-term stability rarely seen in the data center industry.
The financial structure reveals compelling economics: Core Scientific commits just $104 million in capex (
This deal accelerates Core Scientific's strategic pivot from primarily bitcoin mining toward becoming a leading AI infrastructure provider. The company's capacity allocation tells the story: of their 1.3GW contracted power, 900MW is now designated for HPC/AI workloads versus 400MW for bitcoin mining - a clear indication of where management sees future growth.
For context, CoreWeave is a specialized NVIDIA GPU cloud provider backed by Magnetar Capital that focuses exclusively on AI and HPC workloads. Their expanding relationship with Core Scientific positions both companies to capitalize on the explosive demand for GPU computing resources driven by generative AI development.
The contract's structure, including two additional five-year renewal options beyond the initial 12-year term, creates meaningful upside potential beyond the stated figures while providing CORZ with a revenue foundation that exceeds its current
This 70MW expansion at Core Scientific's Denton facility represents one of the largest dedicated GPU computing environments being constructed in North America, bringing the site to an extraordinary 260MW of critical IT load. To put this scale in perspective: a typical enterprise data center might operate at 10-20MW total capacity, while this single facility will have power equivalent to powering approximately 200,000 homes.
The technical requirements for AI infrastructure differ dramatically from traditional data centers. Modern AI GPU clusters demand 35-100kW per rack compared to 5-10kW for conventional enterprise workloads, necessitating specialized power distribution systems, advanced cooling solutions (likely direct-to-chip liquid cooling), and reinforced flooring to support the immense weight of densely packed GPU racks.
CoreWeave's focus on NVIDIA GPU infrastructure requires Core Scientific to implement specialized designs optimized for AI workloads rather than general-purpose computing. This includes:
- High-bandwidth, low-latency networking fabric (likely 400G or 800G InfiniBand) to support distributed AI training
- Substantially reinforced power infrastructure with minimal conversion steps to maximize efficiency
- Precision cooling systems capable of removing 50-60kW of heat per rack consistently
- Optimized physical layouts to minimize cable distances for GPU-to-GPU communication
The strategic location near major fiber routes is critical for AI applications that require distributed processing across multiple data centers. Proximity to fiber backbones can reduce inter-site latency by 15-30%, significantly improving performance for large language model training.
The true engineering challenge lies in scaling to 260MW at a single location - requiring Core Scientific to secure massive power capacity from the local utility, implement redundant power systems, and design cooling infrastructure capable of rejecting unprecedented heat loads efficiently in the Texas climate. Few companies possess the specialized expertise to design and operate infrastructure at this scale and density.
Expands Total Contracted HPC Infrastructure by CoreWeave to Approximately 590 Megawatts of Critical IT Load at Six Core Scientific Sites
New Agreement Boosts Total Projected Revenue to
Core Scientific, Inc. (NASDAQ: CORZ) (“Core Scientific” or the “Company”), a leader in digital infrastructure for high-performance computing (HPC) at scale, today announced an expansion of its relationship with CoreWeave, an AI Hyperscaler. The new agreement brings an additional
The 70 MW of additional contracted power at the
“We are thrilled to deepen our relationship with CoreWeave as we continue developing large-scale HPC projects that power advanced AI and other low-latency workloads," said Adam Sullivan, Chief Executive Officer of Core Scientific. "By expanding our capacity in
This latest announcement further positions Core Scientific as a leader in the high-performance compute data center space. The company is actively seeking additional sites to expand its HPC hosting capacity. With over
Under the terms of our Agreement with CoreWeave with respect to this additional 70MW, Core Scientific is responsible for funding
With its 1.3 gigawatts of contracted power, Core Scientific plans to provide a total of approximately 900 MW of gross capacity for HPC hosting to support alternative compute workloads, based on geographic proximity to major cities and fiber lines. The remaining 400 MW of contracted power is currently allocated to support the Company’s bitcoin mining business.
About Core Scientific
Core Scientific is a leader in digital infrastructure for high-performance computing. The company operates dedicated, purpose-built facilities and is a premier provider of digital infrastructure, software solutions and services to our third-party customers. We employ our own large fleet of computers (“miners”) to earn digital assets for our own account and to provide hosting services for large bitcoin mining customers and we are in the process of allocating and converting a significant portion of our nine operational data centers in
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “aim,” “estimate,” “plan,” “project,” “forecast,” “opportunity,” “goal,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “potential,” “hope” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements include, but are not limited, statements regarding potential benefits of or expectations regarding the strategic relationship, agreements and contemplated transactions with CoreWeave, impacts on the Company’s revenue, financial and other operating results, completion and timing of certain events, impacts on the Company’s trading multiple and ability to deliver shareholder value, the Company’s intention and ability to capitalize on additional or related opportunities, and the Company’s plans, objectives, expectations and intentions. The Company’s actual results may differ materially from those anticipated in these forward-looking statements as a result of certain risks and other factors, which could include, but are not limited to, unanticipated difficulties or expenditures relating to the strategic relationship, agreements and contemplated transactions with CoreWeave; the possibility that the anticipated revenue, financial and other operational benefits of the strategic relationship, agreements and contemplated transactions and additional opportunities are not realized when expected or at all; disruptions of current plans and operations caused by the announcement and execution of the strategic relationship, agreements and contemplated transactions; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business, regulatory or employee relationships, including those resulting from the announcement or execution of the strategic relationship, agreements and contemplated transactions; unexpected risks or the materialization of risks that are greater than anticipated; unavailability of expected power or materially adverse changes in the terms associated with available power; occurrence of any event, change or other circumstance that could give rise to the termination of the contracts with CoreWeave; delays in required approvals; the availability of government incentives; and legal proceedings, judgments or settlements in connection with the strategic relationship, agreements and contemplated transactions, as well as other risk factors set forth in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.
These statements are provided for illustrative purposes only and are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management. These forward-looking statements are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including those identified in the Company’s reports filed with the Securities and Exchange Commission, and if any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Accordingly, undue reliance should not be placed upon the forward-looking statements. The Company does not assume any duty or obligation (and does not undertake) to update or supplement any forward-looking statements.
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FAQ
What is the value of Core Scientific's new expansion agreement with CoreWeave for the Denton facility?
How much total revenue is CORZ projected to generate from its CoreWeave contracts?
What is Core Scientific's capital expenditure commitment for the Denton expansion?
How is CORZ's 1.3 gigawatts of contracted power distributed between HPC and bitcoin mining?
