CoreWeave in Discussions to Acquire Core Scientific, Report Reveals
Jun 27, 2025

CoreWeave in Discussions to Acquire Core Scientific, Report Reveals

AI-summarised brief · reviewed before publication

CoreWeave, a cloud services provider backed by Nvidia, is reportedly in talks to acquire Core Scientific, a bitcoin miner that had rejected an earlier deal from the cloud provider last year. Shares of Core Scientific rose about 8% following the report, giving the company a market value of nearly $4 billion. The move comes as crypto miners, which require vast amounts of electricity to operate, are being increasingly targeted by larger peers and AI technology companies seeking to consolidate power supply for their energy-hungry enterprises. According to sources familiar with the matter, a deal could be finalized in the coming weeks if talks do not face setbacks. However, the exact terms being discussed are not yet known. Core Scientific did not immediately respond to a request for comment, while CoreWeave declined to comment. It is worth noting that Core Scientific received an unsolicited non-binding proposal from CoreWeave in June last year to acquire all of its outstanding shares for $1.02 billion, or $5.75 per share in cash. At the time, Core Scientific had stated that the deal significantly undervalued the company and was not in the best interests of its shareholders. Despite this, the two companies signed a series of 12-year contracts, including an agreement under which Core Scientific would provide CoreWeave with approximately 200 MW of infrastructure to power its high-performance computing services.