Hyperscaler Deals

Track and compare AI infrastructure contracts between public companies and hyperscaler clients. As Bitcoin mining companies pivot toward AI infrastructure and high-performance computing, hyperscaler deals have become a key indicator of revenue diversification and long-term value. These contracts — typically spanning 10 to 15 years — involve companies providing data center capacity measured in megawatts to hyperscaler clients such as CoreWeave, Microsoft, and AWS for AI training, inference, and cloud workloads. This page aggregates every publicly disclosed deal, letting investors compare contract sizes, revenue terms, and deal economics across companies like Core Scientific, Applied Digital, WULF, and IREN. For facility-level data, see our AI Data Centers page. For operational mining metrics, explore hash rate and BTC production data.

Total Contracted MW

Total Contracted Revenue

Avg Deal Duration

Avg Revenue Per MW

Contracted MW by Company

Contracted Revenue by Company

Deal Timeline

Company Client Service Type Contract Size Contracted Revenue Duration Rev/MW Annual Rev/MW Announced

Frequently Asked Questions

A hyperscaler deal is a long-term infrastructure contract between a public company and a major cloud or AI provider (such as CoreWeave, Microsoft, or AWS). These deals typically involve the company providing data center capacity — measured in megawatts — for the hyperscaler to run AI training, inference, or cloud workloads.

In a colocation deal, the company provides physical data center space and power infrastructure, while the hyperscaler brings its own servers and equipment. In an AI cloud (GPU-as-a-Service) deal, the company owns and operates the GPU infrastructure, selling compute capacity directly. An AI Compute JV is a joint venture where both parties share ownership and operation.

Revenue per MW is the total contracted revenue divided by the contract size in megawatts. Annual revenue per MW further divides this by the contract duration in years. These metrics allow investors to compare deal economics across companies regardless of contract size.

Currently tracked companies include Core Scientific (CORZ), Applied Digital (APLD), TeraWulf (WULF), IREN (IREN), Cipher Mining (CIFR), Hut 8 (HUT), and Riot Platforms (RIOT). This list is updated as new deals are announced.

Many Bitcoin mining companies are leveraging their existing power infrastructure and data center expertise to serve the rapidly growing demand for AI compute. Hyperscaler deals provide long-term, predictable revenue streams that can significantly exceed Bitcoin mining economics, while diversifying business risk.

Critical IT load is the power delivered directly to computing equipment, while gross capacity includes overhead such as cooling, lighting, and other facility infrastructure. Companies generally disclose critical IT load when announcing hyperscaler deals. Some companies (e.g. Cipher Mining) report gross capacity, so we standardize all figures as critical IT load to ensure fair, apples-to-apples comparisons across deals.