CoreWeave to Acquire Core Scientific in $9 Billion Deal

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CoreWeave to Acquire Core Scientific in $9 Billion Deal
July 7th, 2025

AI infrastructure firm CoreWeave plans to acquire bitcoin miner Core Scientific through a $9 billion all-stock deal to secure extended power capacity as AI computing demand continues to rise. The transaction demonstrates the increasing convergence between cryptocurrency infrastructure systems and artificial intelligence data center operations.

Core Scientific shareholders will receive 0.1235 CoreWeave shares for each of their own, valuing the miner at $20.40 per share—a 66% premium over June levels before deal talks leaked. The acquisition will eliminate $10 billion worth of future lease commitments for data center sites.

The market reacted negatively to the acquisition by making Core Scientific stock decline 22% while CoreWeave stock decreased 4.5%. The market shows skepticism toward high-growth infrastructure investments because of its current volatile state in the technology sector.

CoreWeave will obtain full control of Core Scientific's 1.3 gigawatt contracted power portfolio which serves as a critical resource for high-performance computing and AI workloads. Core Scientific has moved its operations toward AI clients since its emergence from bankruptcy during the current year.

The acquisition represents a significant achievement for mining companies that are transitioning from crypto operations to AI infrastructure development. CoreWeave establishes itself as a leading AI infrastructure provider through its partnership with Nvidia and its expanding revenue stream. The acquisition requires Q4 regulatory approval to finalize its completion.

Dominic Maley

Dominic Maley is an American journalist recognized for his sharp and insightful reporting on social and political issues. His work is known for its depth, integrity, and the ability to highlight critical societal concerns.

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