Bitcoin Miner Core Scientific Shares Spike After Signing $2B of Additional Computing Contract

The
HPC
and
artificial
intelligence
(AI)
companies
require
energy
intensive
data
centers,
sites
and
infrastructure
which
are
expensive
and
time
consuming
to
secure.
Bitcoin
miners
on
the
other
hand,
already
have
power
contracts
and
infrastructure
that
are
ready
to
support
such
needs,
making
them
the
easier
candidates
to
host
the
HPC
and
AI-related
machines
than
building
from
scratch
or
use
legacy
data
centers.

Taking
advantage
of
this
market
opportunity,
Core
Scientific
said
it
has
options
for
another
extension
of
the
contract
to
host
118MW
worth
of
additional
machines
for
HPC
computing.

“The
latest
contract
also
validates
that
our
strategy
for
developing
application-specific
data
centers
aligns
with
the
increasing
energy
density
requirements
for
high-performance
computing
that
legacy
data
centers
do
not
typically
satisfy,”
said
Sullivan.