Core Scientific shares are trading higher after the company announced it expanded its HPC hosting capacity when CoreWeave exercised its final contract option for an additional 120 MW, resulting in a total contracted infrastructure of 500 MW. This brings a potential revenue boost of $8.7 billion over 12 years.
Portfolio Pulse from Benzinga Newsdesk
Core Scientific's shares rose as the company expanded its HPC hosting capacity. CoreWeave exercised its final contract option for an additional 120 MW, leading to a total contracted infrastructure of 500 MW. This expansion could generate $8.7 billion in revenue over 12 years.
October 22, 2024 | 3:41 pm
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Core Scientific's stock is likely to rise due to the expansion of its HPC hosting capacity by 120 MW, resulting in a total of 500 MW. This expansion is expected to generate $8.7 billion in revenue over 12 years.
The expansion of hosting capacity and the significant potential revenue increase are positive indicators for Core Scientific's future performance. The market is likely to react favorably to this news, driving the stock price up.
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