By Adriano Marchese
Core Scientific shares rose Thursday morning after the company said it has secured $1.2 billion in contracted revenue for providing power from its Denton, Texas site.
Shares traded 6.6% higher at $10.67, down from an earlier high of $11.87.
The digital infrastructure and computing company said late Wednesday that it has expanded its relationship with CoreWeave, an AI hyperscaler, for 70 megawatts of additional power at the Denton location.
The new agreement boosts total projected revenue to $10.2 billion over the span of the 12-year contract.
The additional power now increases the full critical IT load to about 260 megawatts at Denton, and increases CoreWeave's total contracted high-performance computing infrastructure with Core Scientific to about 590 megawatts across six sites.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
February 27, 2025 10:10 ET (15:10 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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