CoreWeave Plans $9 Billion All-Stock Acquisition of Core Scientific
CoreWeave (CRWV), a prominent cloud and AI infrastructure company, has announced its intention to acquire Core Scientific (CORZ), a major crypto-mining data center operator, in an all-stock deal valued at approximately $9 billion.
According to the agreement, Core Scientific shareholders will receive 0.1235 CoreWeave shares for each Core Scientific share they own, valuing Core Scientific at $20.40 per share — a 66% premium over its share price in late June.
The transaction remains subject to shareholder and regulatory approvals and is anticipated to close by the end of 2025.
CoreWeave expects the merger to eliminate more than $10 billion in projected lease commitments over the next 12 years and provide access to around 1.3 gigawatts of gross power capacity across Core Scientific’s data centers.
Following the announcement, CoreWeave’s shares fell 4% in pre-market trading, while Core Scientific’s stock dropped approximately 14.7% to $15.48.
