Core Scientific and CoreWeave Announce $1.2 Billion Expansion at Denton, TX Site
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 $10.2 Billion over 12-year Contract Terms
AUSTIN, Texas–(BUSINESS WIRE)–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 $1.2 billion in contracted revenue across Core Scientific’s Denton TX location, solidifying Core Scientific’s position as a premier provider of application-specific data centers for HPC workloads.
The 70 MW of additional contracted power at the Denton site increases the full critical IT load to approximately 260 MW. The agreement increases CoreWeave’s total contracted HPC infrastructure with Core Scientific to approximately 590 MW across six sites. We believe this addition aligns with CoreWeave’s growing need for robust, high-density infrastructure to support NVIDIA GPU operations.
Adam Sullivan, Chief Executive Officer of Core Scientific, said:
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,
“By expanding our capacity in Denton, we’re building one of the largest GPU supercomputers in North America — reinforcing Core Scientific’s leadership in delivering high-density, high-performance digital infrastructure. We look forward to delivering even greater value for both our customers and shareholders.”
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 $10 billion in potential cumulative revenue with CoreWeave, we believe Core Scientific is strategically positioned to capitalize on the growing demand for energy-dense, application-specific data centers.
Under the terms of our Agreement with CoreWeave with respect to this additional 70MW, Core Scientific is responsible for funding $104 million of the additional required capex ($1.5M per MW), with CoreWeave responsible for the additional capex associated with the expansion. The company also retains the option for two additional five-year renewal terms.
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.
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Core Scientific and CoreWeave Announce $1.2 Billion Expansion at Denton, TX Site, source
