BITPRISMIA
H.C. Wainwright downgraded Core Scientific (CORZ) to neutral due to increased complexity from its deal with CoreWeave (CRWV), citing risks tied to cryptocurrency and AI adoption.
CoreWeave has agreed to acquire bitcoin miner Core Scientific in an all-stock deal valued at $20.40 per share, but KBW analysts see limited upside for Core Scientific shareholders.
CoreWeave, a leading GPU cloud provider, plans to acquire Core Scientific, a prominent crypto mining firm, in a $9 billion all-stock deal, marking a significant convergence of GPU cloud services and crypto mining industries.