CoreWeave began in 2017 as Atlantic Crypto, a company that mined Ethereum with large numbers of graphics processing units (GPUs). When cryptocurrency prices fell in 2018, many mining companies sold equipment or closed. CoreWeave expanded instead, buying GPUs from struggling crypto miners at discounted prices and renting out extra computing power to other businesses. In 2019, it changed its name to CoreWeave as it moved away from cryptocurrency mining and toward cloud computing services using NVIDIA chips.
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