Retail Investors ‘Extremely Bullish’ On Core Scientific After Deal Expansion

Core Scientific, a once-bankrupt Bitcoin miner, announced an expanded deal with Nvidia-backed CoreWeave, expected to add about $2 billion in projected additional revenue over a 12-year hosting contract. This news sent the stock up over 15% on Tuesday.

Key Points:
- Deal Expansion: Core Scientific will modify its infrastructure to deliver approximately 112 incremental megawatts (MW) for high-performance computing (HPC) to host CoreWeave’s NVIDIA GPUs.
- Projected Revenue: The new contract is expected to add approximately $2 billion in additional cumulative revenue, increasing total potential cumulative revenue to over $6.7 billion over the 12-year term.
- Investor Sentiment: Retail interest surged, with sentiment on Stocktwits turning ‘extremely bullish’ (93/100) amid high message volumes.
- Infrastructure Funding: All required capital investments for modifying infrastructure will be funded by CoreWeave.
- Stock Recovery: Core Scientific's stock has gained over 176% since its January IPO closing price.

Investors are now eagerly awaiting Core Scientific’s second-quarter earnings release, hoping for further insights into its expansion plans and growth potential.