Core

Bitcoin

<a href="https://ultramining.com/news/en/bitcoin-mining-giant-core-scientific-prepares-for-post-bankruptcy-comeback/">Core Scientific</a>, renowned for its large-scale Bitcoin mining operations, is on the verge of becoming a significant force in artificial intelligence (AI) <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/">hosting</a> services. This shift is enabled by a transformative 12-year contract with hyperscaler CoreWeave, signed in June. 
According to analysts, this contract grants Core Scientific access to the rapidly growing high-performance computing (HPC) market for AI. The company plans to repurpose nearly 500 MW of its capacity from Bitcoin mining to AI hosting, which could substantially boost revenues and strengthen its market position. 
Additionally, Core Scientific still has about 230 MW of power available to continue its Bitcoin mining operations, offering additional growth opportunities. Experts believe this strategic move allows the company to diversify its business and mitigate risks associated with cryptocurrency volatility.

Core Scientific Poised to Become Major Player in AI Hosting Services

Ultramining_Eng

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