03:42 AM EDT, 06/04/2024 (MT Newswires) -- Core Scientific ( CORZ ) said late Monday it entered 12-year deals to provide about 200 megawatts of infrastructure to host CoreWeave's high-performance computing operations.

The company plans to modify multiple existing sites to host CoreWeave graphics cards with modifications targeted to begin in early H2 and anticipated operational status by H1 2025, it said.

Under the deals, CoreWeave will fund all capital investments for the infrastructure modifications, with an estimated $300 million expected to be credited against hosting payments.

Core Scientific ( CORZ ) expects the project to generate cumulative revenue of more than $3.5 billion during the 12-year duration of the contracts.

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