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← CoreWeave
Fri, Oct 31, 2025

CoreWeave-Core Scientific merger agreement terminated after shareholder vote

Source document ↗

Key points

  • Core Scientific stockholders did not approve the merger agreement proposal at the October 30, 2025 special meeting
  • Core Scientific terminated the July 7, 2025 all-stock merger agreement effective immediately
  • The companies will continue their longstanding commercial partnership
  • CoreWeave says its growth strategy is unchanged, including opportunistic and strategic M&A

Acquisition

Core ScientificTerminated

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

Core Scientific stockholders voted against adoption of the merger agreement at the October 30, 2025 special meeting; Core Scientific terminated the agreement effective immediately. Both companies continue their commercial partnership.