The AI infrastructure provider is scaling its compute capacity to meet ongoing industry demand. CoreWeave reported that short dated contracts for the third quarter were signed at roughly $40 million per megawatt of power. Management noted that agreements for new capacity have been priced at rates higher than that benchmark since June 30.

The pricing update follows a 15 year anchor lease with Blockfusion for data center capacity at a facility in Niagara Falls, New York. The site consists of a converted power plant utilizing hydroelectric energy and liquid cooled infrastructure. Blockfusion is currently pursuing a merger with Blue Acquisition Corp. to list the combined company on Nasdaq under the ticker BDI.