$SOL
$Bitcoin mining stocks (as a sector) have outperformed Bitcoin YTD. Source: The Bitcoin Mining Stock Index is the fixed face at 13.14% over several months - while CRWV's volatility is just not convincing enough for many. Final thoughts from a business perspective, the deal makes sense - Coreave is acquiring 1.3 gigawatts of total power capacity, deep operational expertise, and eliminating $10 billion in future lease obligations. It vertically integrates data center control, unlocking an estimated $500 million in annual operating rate cost savings by 2027. However, the deal serves Coreave's ambitions in artificial intelligence - not necessarily the interests of Corz shareholders in Bitcoin mining. With the approval of both boards and the strategic logic of CoreAve, the merger is likely to close in Q4 2025 pending regulatory and shareholder approvals. However, the structure of all-stock, reliance on valuation, and potential pivot away from Bitcoin mining may explain the interaction with the news. If the deal closes as organized, Core Scientific could become another crypto player absorbed into the broader artificial intelligence direction - reducing exposure to pure play in the public mining sector. $BNB
