Core Scientific pivots to AI colocation, projects $1.8 billion in annual revenue
CORZ Core Scientific Inc
$12.72 +8.16%
View chart & analysis → - 1Core Scientific is transitioning from Bitcoin mining to becoming a specialized colocation provider for AI customers.
- 2At full capacity, Core Scientific is projected to record an average annual revenue of approximately $1.8 billion from its contracted data center portfolio.
- 3Core Scientific recorded $215 million in Q3 GAAP colocation revenue, achieving a nearly 60% quarter-over-quarter growth rate in GAAP colocation revenue.
So what's the key point?
Core Scientific has shifted its business focus from Bitcoin mining to renting out facilities for artificial intelligence. Once all facilities are fully operational, the company expects to generate about $1.8 billion in annual revenue.
Source The Motley Fool +1 · View original ↗
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