Share this article
Core Scientific Stock Surges After $1.2B Expansion of Data Center With CoreWeave
The expansion will significantly increase Core Scientific’s AI and cloud computing capacity and increase total projected revenue to $10.2 billion over 12-year contract terms.
By Aoyon Ashraf, AI Boost
Updated Feb 26, 2025, 11:32 p.m. Published Feb 26, 2025, 11:06 p.m.
What to know:
- The expansion will significantly increase Core Scientific’s AI and cloud computing capacity and increase total projected revenue to $10.2 billion over 12-year contract terms.
- CoreWeave will leverage the expanded site for AI-focused workloads, strengthening its cloud infrastructure.
- Core Scientific is actively seeking additional sites to expand its HPC hosting capacity.
Core Scientific (CORZ) stock surged more than 11% after-market on Wednesday after the data center and bitcoin mining company said it was planning a $1.2 billion expansion of a data center in Denton, Texas, with CoreWeave, to support artificial intelligence (AI) and high-performance cloud computing (HPC).
"The 70 MW [megawatt] of additional contracted power at the Denton site increases the full critical IT load to approximately 260 MW," according to a statement.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"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."
Read more: Bitcoin Miners Are Pivoting to AI to Survive. Core Scientific Entered the Race Years Ago
The expansion builds on a partnership between the two firms, which focuses on deploying advanced computing solutions at scale. Core Scientific said that the company is "actively seeking additional sites to expand its HPC hosting capacity," underpinning the growing demand for data centers that can host and support computing power for HPC and AI machines.
"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," the statement said.
Bitcoin miners have been shifting some of their computing powers to AI to diversify their revenue sources, as the competition in the mining industry has become intense following the recent halving event and rising power costs.
CoreWeave, a cloud provider specializing in AI and GPU-based workloads, has been rapidly scaling its infrastructure to support growing enterprise demand.
Read more: AI Is Here, but That Doesn't Mean Bitcoin Miners Are Finished
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
