Mentioned:
One of the giants of artificial intelligence has just cut a new deal with a publicly traded Bitcoin miner.
What’s happening:
- TeraWulf (NASDAQ: WULF) has announced a new deal with Core42 for a long term lease for artificial intelligence computing
Why it matters:
- Core42 is a subsidiary of Abu Dhabi based G42, which has struck multiple notable partnerships focused on artificial intelligence with companies such as Microsoft (NASDAQ: MSFT), OpenAI and Nvidia (NASDAQ: NVDA)
- This is the first major deal for high performance computing that TeraWulf has landed since expanding their data centres into high performance computing
By the numbers:
- TeraWulf will provide 70megawatts of power capacity to Core42 at their Lake Mariner data centre located in the state of New York
- The new deal also has the potential to eventually be expanded to 135 megawatts of total power capacity
Going deeper:
- Bitcoin miners cutting large deals around high performance computing has been a consistent trend, with Core Scientific (NASDAQ: CORZ) and CoreWeave just recently breaking ground on their new data centre project in Oklahoma and Galaxy Digital (TSX: GLXY) also raising hundreds of millions of dollars in a debt financing to expand their Texas based data centre Helios into artificial intelligence computing
