My apologies for the confusion. You are correct that the 12-year deals and buyout offers are related to Core Scientific (CORZ) and not Iren. Core Scientific announced a series of 12-year contracts with CoreWeave in June, and CoreWeave also made an offer to acquire Core Scientific for $5.75 per share. These deals are significant for Core Scientific as they provide long-term contracted revenue and enhance its earnings power.
- Core Scientific's 12-Year Contracts with CoreWeave:
- Core Scientific entered into a series of 12-year contracts with CoreWeave for 200 MW of infrastructure1.
- The contracts are expected to generate more than $3.5 billion in revenue over their lifetime1.
- Core Scientific will modify 100 MW of its owned infrastructure to deliver approximately 70 MW to host CoreWeave's NVIDIA GPUs for HPC operations2.
- CoreWeave's Buyout Offer for Core Scientific:
- CoreWeave proposed a buyout offer for Core Scientific at $5.75 per share in cash3.
- The offer was made after the signing of the initial contracts, and Core Scientific's board rejected it, citing undervaluation3.
- Core Scientific's Strategic Importance for CoreWeave:
- Core Scientific's infrastructure is critical for CoreWeave's expansion into HPC and AI1.
- Core Scientific's high-powered digital infrastructure is well-suited to support CoreWeave's needs for computing power1.
- Financial Implications of the Deals:
- The 12-year contracts are expected to significantly enhance Core Scientific's revenue and earnings power12.
- The buyout offer reflects CoreWeave's confidence in Core Scientific's infrastructure and its strategic importance for CoreWeave's growth3.
In conclusion, the 12-year deals and buyout offers are related to Core Scientific (CORZ) and CoreWeave, not Iren (IREN). These deals are significant for Core Scientific as they provide long-term contracted revenue and strengthen its position in the AI and HPC markets.