AI infrastructure firm CoreWeave announced a multi-year agreement with Anthropic, which will use CoreWeave’s cloud computing for its Claude AI model workloads. CoreWeave’s stock surged over 12% following the news, trading at $102.73. The deal follows CoreWeave’s recent $8.5 billion capital raise, collateralized against its computing capacity. Meanwhile, economic pressures in the crypto sector, including rising energy costs and declining Bitcoin prices, are pushing up to 20% of Bitcoin miners into unprofitability, leading many to pivot toward more lucrative AI workloads.
Publicly traded AI cloud infrastructure company CoreWeave announced a multi-year agreement with AI developer Anthropic. The agreement will see Anthropic use CoreWeave’s cloud computing data centers for workloads related to its Claude AI model.
The rollout will occur in phases with the potential to expand over time according to CoreWeave’s announcement. Shares of CoreWeave surged more than 12% on Friday, trading at $102.73. This follows the company’s recent $8.5 billion capital raise led by tech giant Meta Platforms.
The financing was collateralized against deployed computing capacity tied to predictable cash flows, not graphics processing unit hardware. CoreWeave pivoted from crypto mining to AI infrastructure in 2019 after the sector faced prolonged economic pressure.
Bitcoin miners now struggle with rising energy costs, reduced rewards, and declining crypto asset prices. Up to 20% of Bitcoin miners are unprofitable in this environment according to asset manager CoinShares latest mining report.
The industry’s challenges worsened after an October 2025 market crash took Bitcoin from about $126,000 to the low $60,000 range. Prices have since stabilized around $73,000, but high mining costs threaten the sector’s viability.
Wintermute stated miners must generate yield by deploying crypto on decentralized finance platforms to shore up revenues. Market analyst Ran Neuner said “Both industries compete for the same thing: electricity, and right now, AI is willing to pay much more for it.”
