Core Scientific | Crypto

CoreWeave has been trying to acquire Core Scientific for over a year in one of the most-watched M&A deals in crypto. Bitcoin miner Core Scientific failed to win approval for a merger with AI infrastructure company CoreWeave during a shareholders meeting on Thursday. The final results of the preliminary vote will be disclosed in a Securities and Exchange Commission (SEC) filing on Friday, according to Core Scientific’s announcement. CoreWeave finalized the $9 billion acquisition in July, subject to shareholder approval, in which Core Scientific shareholders would receive 0.1235 shares of CoreWeave Class A common stock for each Core Scientific share they own. Read more

Two Seas Capital has opposed CoreWeave’s all-stock acquisition of Core Scientific, asserting the valuation and structure leave investors exposed to post-closing price swings. The move has reflected wider scrutiny of equity-only deals in AI infrastructure. The post Core Scientific’s Largest Active Shareholder to Vote Against CoreWeave Acquisition appeared first on Cryptonews.

Two Seas Capital is challenging Core Scientific’s $9 billion sale to CoreWeave, arguing the terms significantly undervalue the miner.

The shareholder letter by Two Seas Capital says the buyout offer undervalues Core Scientific's business. Two Seas Capital, the largest active shareholder of Bitcoin mining company Core Scientific, announced its intention to vote against the buyout offer proposed by AI infrastructure company CoreWeave. The investment company holds a 6.5% stake in Core Scientific and said the $9 billion valuation deal, finalized in July, undervalues the business. The shareholders wrote on Thursday: The fact that Core Scientific's stock price declined by 30% in the days following the transaction announcement strongly suggests to us that other investors agree,” the letter reads. Read more

CoreWeave agreed to purchase Core Scientific in an all-stock deal valued at $9 billion. Shares of CoreWeave (CRWV) opened lower on Tuesday as analysts questioned whether the company’s recent acquisition of Core Scientific (CORZ) would contribute meaningfully to its bottom line. CRWV stock was down 3.6% after the opening bell, hitting a low of $153.97. Despite the decline, the crypto miner turned AI infrastructure company holds a market capitalization of $75 billion after posting a 288% gain since its initial public offering in March. Selling pressure mounted after D.A. Davidson’s Gil Luria raised doubts about CoreWeave’s $9 billion all-share deal to acquire Core Scientific, announced Monday. Read more

CoreWeave, a rising player in the artificial intelligence industry, has entered a definitive agreement to acquire Bitcoin mining company Core Scientific in an all-stock transaction, according to a July 7 announcement. This strategic move would help CoreWeave to strengthen its data center capabilities and expand its AI and high-performance computing (HPC) infrastructure. Agreement terms Under the […] The post CoreWeave’s $9B Core Scientific deal faces backlash and legal investigation appeared first on CryptoSlate.

CoreWeave acquires Bitcoin mining giant Core Scientific for $9 billion in an all-stock deal, boosting its data center capacity for AI and high-performance computing. AI infrastructure provider CoreWeave (CRWV) has finalized its acquisition of Core Scientific (CORZ), aiming to expand its data center capacity to support artificial intelligence and high-performance computing (HPC) workloads. The deal values Core Scientific at approximately $9 billion through an all-stock transaction. Under the terms of the agreement, existing Core Scientific shareholders will receive 0.1235 shares of newly issued CoreWeave Class A common stock for each CORZ share they hold, CoreWeave announced Monday. “Through this acquisition, CoreWeave will own approximately 1.3 GW of gross power across Core Scientific’s national data center footprint with an incremental 1 GW+ of potential gross power available for expansion,” the announcement said.  Read more

CoreWeave is negotiating to acquire Bitcoin (BTC) miner-turned-compute host Core Scientific, the Wall Street Journal reported on June 26, citing people familiar with the matter.  The cloud infrastructure company attempted to acquire the miner for $5.75 per share in June 2024 but withdrew after Core Scientific’s board deemed the price inadequate. Core Scientific and CoreWeave […] The post CoreWeave revives bid for Core Scientific causing shares to surge 33% appeared first on CryptoSlate.

CoreWeave’s previous takeover bid for Bitcoin miner Core Scientific was rejected for being too low. CoreWeave — once a cryptocurrency miner and now a rising AI infrastructure provider — is reportedly in acquisition talks with Core Scientific, after increasing a previously rejected bid made last year to the Bitcoin mining firm. A takeover bid could be “finalized in the company weeks,” The Wall Street Journal reported on Thursday, citing sources with knowledge of the discussions. No financial details were provided, though the offer would have to account for Core Scientific’s rapid expansion over the past year. Shares of Core Scientific rallied more than 23% on the news, with trading temporarily halted after the Journal’s report.  Read more