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Nvidia: The Secret Plan to Dominate Bitcoin Mining!
Nvidia plans to become indirectly involved in Bitcoin mining through CoreWeave as AI and crypto increasingly combine.
Nvidia: The Secret Plan to Dominate Bitcoin Mining!
Nvidia shows a strong economic interest in the world of Bitcoin mining, indirectly supported by its stake in CoreWeave, an AI infrastructure provider. loud Ariva.de, Nvidia could benefit financially from a possible acquisition of Core Scientific by CoreWeave. CoreWeave, which invested $3.58 billion in CoreWeave stock as part of the AI boom, has established itself as a major force in the tech industry.
The company has reached an impressive market value of approximately $75 billion since its IPO in March 2025 and reported revenues of $981.6 million in the first quarter of 2025. CoreWeave's backlog is a significant $25.9 billion, with $11.2 billion coming from OpenAI alone. Planned investments in the second quarter of 2025 are up to $3.5 billion, while forecast sales are around $1.1 billion.
Takeover plans and market movements
CoreWeave plans to acquire Core Scientific, one of the largest Bitcoin miners in North America. CoreWeave had already made a takeover offer of over $1 billion for Core Scientific in 2024, which was rejected. Nevertheless, Core Scientific's share price rose by over 35% after the takeover negotiations became public. Currently, Core Scientific has a market capitalization of about $4.9 billion and reported a profit of $580 million in the first quarter of 2025, despite significant losses a year ago.
The two companies have already signed long-term contracts, including a 12-year deal for 200 megawatts (MW) of infrastructure. According to information from Tom's Hardware, CoreWeave has expanded its contracts with Core Scientific by 100 MW to provide an additional 70 MW for Nvidia GPUs. This flexibility is crucial as many cryptocurrency miners, including Core Scientific, are repurposing their data centers to meet growing demand for AI computing.
Shifting to AI and market adjustments
CoreWeave itself has made a significant strategy shift and now offers a variety of cloud-based AI training and operational solutions. This shift was largely driven by the increasing demand for AI computing following the launch of OpenAI’s ChatGPT. In addition to existing services, CoreWeave has also worked with Bit192 to bring GPT-NeoX-20B to Japan.
CoreWeave's systems are based on Kubernetes-native infrastructures and use over 45,000 powerful Nvidia GPUs for compute-intensive tasks. Core Scientific has announced that many of the data centers built over the last 20 years can no longer meet future requirements. However, the company is optimistic about the future and plans to lease around 270 MW of capacity in 2025. It also aims to expand in Europe, including building data centers in Norway, Spain and Sweden by the end of 2025.
Overall, the development between Nvidia, CoreWeave and Core Scientific shows the convergence of AI and crypto worlds, with computing power being seen as an essential resource for both the crypto market and for AI applications. Through its stake in CoreWeave, Nvidia could be able to benefit from future mining revenues without engaging directly in the Bitcoin market.