Hyperscaler Deals

As of Jul 23, 2026, this page tracks 67 publicly disclosed hyperscaler deals totaling 5,760 MW of contracted capacity and $257.94B in contracted revenue. Compare colocation and AI cloud contracts signed with hyperscaler, neocloud, and AI lab clients by public companies, many of them Bitcoin miners pivoting to AI infrastructure.

Total Contracted MW

Total Contracted Revenue

Avg Deal Duration

Total Deals

Contracted MW by Company

Contracted Revenue by Company

Deal Timeline

Company Client Service Type Size Revenue Duration Ann. 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.

Ziven also tracks AI data center capacity by facility, Bitcoin mining hash rate, and monthly BTC production for the same public companies.