CoreWeave to acquire Core Scientific in $9b deal
2025-07-07 16:17:22
Main Idea
CoreWeave, an AI and cloud solutions provider, is acquiring cryptocurrency mining data center Core Scientific in a $9 billion all-stock deal, aiming to enhance its AI and high-performance computing capabilities.
Key Points
1. CoreWeave announced the acquisition of Core Scientific for approximately $9 billion in an all-stock transaction.
2. The deal is expected to close in Q4 2025, pending regulatory and shareholder approval.
3. CoreWeave plans to use Core Scientific's infrastructure to improve its AI and high-performance computing solutions.
4. The acquisition is projected to reduce CoreWeave's future lease expenses by over $10 billion in the next decade.
5. Core Scientific's platform will contribute around 1.3 gigawatts of power to CoreWeave's operations.
Description
CoreWeave, a Nasdaq-listed artificial intelligence and cloud solutions provider, has announced its acquisition of Core Scientific, a top cryptocurrency mining data center, in a deal worth approximately $9 billion. The CoreWeave team revealed in a press release on July 7, 2025 that the companies have signed a definitive agreement for the acquisition, with the deal set for an all-stock transaction. It’s the latest development in CoreWeave’s quest to acquire the Bitcoin ( BTC ) mining company, with...
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