Core Scientific Inc. (Nasdaq: CORZ) (“Core Scientific” or the “Company”), a leader in digital infrastructure for high-performance computing and bitcoin mining, CoreWeave, the AI hyperscaler, and Port Muskogee broke ground today on Core Scientific’s newest state-of-the-art, high-performance computing data center. The 100-megawatt facility will host CoreWeave’s NVIDIA GPUs for an undisclosed client.
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Muskogee 100 MW HPC Data Center Site (Photo: Business Wire)
“Today we celebrate the beginning of a project that highlights Muskogee’s role as a center of next-generation, AI computing,” said Adam Sullivan, Core Scientific Chief Executive Officer. “This cutting-edge project was made possible thanks to the foresight demonstrated by Port Muskogee’s team, Mayor Patrick Cale, and the state of Oklahoma. Their support and determination make Muskogee a focal point for one of the most important and dynamic technology developments in modern times, creating an economic and job creation engine for the region. We look forward to serving as a contributing member of the local community for years to come.”
The 100 MW Muskogee data center will provide approximately 70 MW of critical IT load to power the latest generation of NVIDIA GPUs, with the remaining 30 MW powering ancillary systems required to ensure optimal GPU performance. The Muskogee data center represents a portion of the total 500 MW of critical IT load that CoreWeave has contracted from Core Scientific for HPC hosting operations, with a total potential contract value of $8.7 billion over the 12-year contracts, each with two five-year options. The site is expected to be operational in 2026.
"Port Muskogee is proud to welcome Core Scientific and CoreWeave to our community, a partnership poised to significantly impact Muskogee’s economic future," said Port Muskogee’s Executive Director, Kimbra Scott. "This facility is more than a data center; it’s a commitment to economic progress, bringing more than $4 billion in capital investment and $182 million in local net benefits over the life of the project. We are excited to be part of Muskogee’s transformation into a hub for high-performance AI and technology."
According to the latest impact projections, the Muskogee data center will generate a net benefit of approximately $182 million in the local economy, supporting 150 jobs and average salaries exceeding $65,000. Local institutions, including Muskogee County, Hilldale School District, and the City of Muskogee, stand to receive substantial tax revenue, with projected property and sales taxes bringing over $12 million to support community growth.
About Core Scientific, Inc.
Core Scientific, Inc. (“Core Scientific” or the “Company”) is a leader in digital infrastructure for high-performance computing and bitcoin mining. We operate dedicated, purpose-built facilities for digital asset mining and are a premier provider of digital infrastructure to our third-party customers. We employ our own large fleet of computers (“miners”) to earn digital assets for our own account and to provide hosting services for large bitcoin mining customers and we are in the process of allocating and converting a significant portion of our eight operational data centers in Georgia (2), Kentucky (1), North Carolina (1), North Dakota (1) and Texas (3), and our facility in development in Oklahoma to support artificial intelligence-related workloads under a series of contracts that entail the modification of certain of our data centers to deliver hosting services for high-performance computing (“HPC”). www.corescientific.com.
FORWARD LOOKING STATEMENTS AND EXPLANATORY NOTES
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Although the Company believes that in making such forward-looking statements its expectations are based upon reasonable assumptions, such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. The Company cannot assure you that the assumptions upon which these statements are based will prove to have been correct. Additional important factors that may affect the Company's business, results of operations and financial position are described from time to time in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q and the Company's other filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law.
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