Core Scientific CEO: Miners Can Scale Exponentially via AI Data Centers
CryptoNewsTerminal Staff10 Sep, 2024
Core Scientific CEO: Miners Can Scale Exponentially via AI Data Centers
Adam Sullivan, CEO of crypto miner Core Scientific (ticker: CORZ), said in an interview with Bernstein that "miners can scale exponentially over the next several years" through artificial intelligence (AI) data center services. Core Scientific has a 12-year contract to provide data center infrastructure to GPU cloud provider CoreWeave, a deal that could be worth $3.5 billion in revenue. "Whether miners are successful in diversifying into AI data center services will depend on other miners following Core Scientific's lead and signing similar deals," said Sullivan. "Regarding Core's bitcoin mining hashrate, the focus will remain on driving efficiency gains at existing sites rather than deploying additional infrastructure. The strategy of holding no BTC on the balance sheet will continue until there is revenue from the new businesses," he added.
