Core Scientific secures HPC expansion after approval of lease amendments
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Core Scientific (NASDAQ:CORZ) said Wednesday that the City of Denton, Texas, has approved amendments to the company's power purchase agreements and land leases, enabling an expansion to its high-performance computing business.
Under the original agreement, Core Scientific (NASDAQ:CORZ) leased about 31 acres of city-owned land and had access to 297 megawatts of power. The Denton City Council's approval boosted the leased land to some 78 acres and the company's access to power to 394 megawatts.
The expansion is projected to bring a $6.1B real property investment, it said.
"Denton has been home to one of our most advanced data centers, and now we expect it will host one of the largest GPU supercomputers in North America, powering artificial intelligence," said Core Scientific CEO Adam Sullivan.
Core Scientific (CORZ), which is also in the business of mining bitcoin (BTC-USD), currently operates nine data centers in six different states—Alabama, Georgia, Kentucky, North Carolina, North Dakota, and Texas. It also has one additional data center under development in Oklahoma.
(CORZ) shares gained 4.9% minutes after the opening bell as bitcoin (BTC-USD) notched another all-time high.
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