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← CoreWeave
Mon, Jul 7, 2025

CoreWeave agrees to acquire Core Scientific in $9B all-stock deal

Source document ↗

Key points

  • 0.1235 CoreWeave Class A shares per Core Scientific share
  • Core Scientific holds ~1.3GW gross power capacity and is an existing CoreWeave landlord/capacity provider
  • Deal rejected by Core Scientific shareholders and terminated October 30, 2025

Acquisition

Core ScientificCompleted

Core Scientific is a former bitcoin miner turned AI/HPC data center host, and an existing CoreWeave landlord across several sites (Denton, Dalton, Muskogee, Marble).

  • All-stock deal, 0.1235 CoreWeave shares per Core Scientific share, ~$9.0B implied value
  • Opposed by shareholder Two Seas Capital; ISS recommended against
  • Terminated Oct 30, 2025 after shareholders voted against the merger (20.75M for vs 203.45M against)
  • Both companies remain independent; existing lease/hosting contracts continue