Bitcoin Miner Core Scientific Signs 75 MW Colocation Agreement

According to reports, bitcoin miner Core Scientific announced today that it has entered into a colocation agreement to increase its colocation operations by 75 megawatts. The recently signed hosting agreement will generate approximately $50 million in annual revenue after the ASIC servers are fully deployed. In addition, the agreement provides sufficient upfront payments to finance the additional infrastructure required for 75 megawatts of energy. Server deployment will begin in the third quarter of this year, with full deployment due in 2022. With these additions, the company expects to have around 325,000 ASIC servers (combining self-mining and hosting) running in its data centers by the end of the year.