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Coin Telegraph

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Core Scientific shares drop 18% as Microsoft cuts CoreWeave deals

  • Shares of Bitcoin miner Core Scientific (CORZ) dropped 18% on March 6 after Microsoft reduced its commitment to CoreWeave.
  • CoreWeave missed deadlines and had issues delivering materials needed to scale AI models, resulting in Microsoft scaling back its contracts.
  • Core Scientific, one of the largest publicly listed Bitcoin miners, signed a $100 million deal with CoreWeave in 2024 to provide data center services.
  • Shares of other Bitcoin mining companies fell as the US stock market faced struggles, with Cipher Mining, CleanSpark, and Bitfarms experiencing declines.

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