U.S. listed mining company Core Scientific is planning to collaborate with CoreWeave to expand its data center located in Denton, Texas, with an investment of 1.2 billion U.S. dollars

The US-listed mining company Core Scientific (CORZ) saw its stock price surge by more than 11% after hours on Wednesday, as the data center and Bitcoin mining firm announced plans to partner with CoreWeave to expand its data center in Denton, Texas for $1.2 billion to support artificial intelligence (AI) and high-performance cloud computing (HPC).

The statement said: "The additional 70 megawatts (MW) of contracted power at the Denton Data Center will increase the total key IT load to approximately 260 MW."