Bitcoin Miner Core Scientific Shares Spike After Signing $2B of Additional Computing Contract
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 06 2024
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Source: Coinmarketcap
Core Scientific's Revenue Growth: Core Scientific's shares rose by 17% after signing a new $2 billion contract extension with CoreWeave, increasing their total revenue potential to over $6.7 billion starting in 2026.
Market Demand for HPC Infrastructure: The deal highlights the growing demand for high-performance computing infrastructure, as Bitcoin miners like Core Scientific leverage their existing power contracts and facilities to meet the needs of AI and HPC companies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
