• Microsoft recently signed a deal with former Ethereum miner CoreWeave.
• CoreWeave has shifted its usage of cloud computing infrastructure from Ethereum mining and is now one of the rapidly developing providers.
• Microsoft also invested $10 billion in OpenAI, which is now spearheading a cryptocurrency project called Worldcoin.
Microsoft Inks Deal With Former Ethereum Miner
Microsoft has reportedly signed a deal with former Ethereum miner – CoreWeave. The financials of the agreement have not been disclosed, but sources close to the matter suggest that Microsoft could be spending „potentially billions of dollars over multiple years“.
CoreWeave was previously involved in Ethereum mining, however, it has now shifted its attention towards cloud computing infrastructure and is currently one of the rapidly developing providers. It recently attained a valuation of $2 billion.
Investment in OpenAI
At the beginning of 2023, Microsoft also invested $10 billion in OpenAI – the firm behind popular AI-based chatbot ChatGPT. Sam Altman – CEO of OpenAI – is now heading up a cryptocurrency project called Worldcoin which involves high-precision retina scans and is backed by crypto’s most prominent VCs.
The recent agreement between Microsoft and CoreWave shows how quickly both industries are coming together as well as the growing adoption rate for cryptocurrencies and blockchain technology amongst major corporations all over the world.
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