Two Seas Capital Opposes CoreWeave’s $9B Buyout of Core Scientific

August 7, 2025 — According to Cointelegraph, Two Seas Capital, the largest active shareholder of Bitcoin mining firm Core Scientific with a 6.5% stake, has publicly opposed the $9 billion acquisition offer from AI infrastructure company CoreWeave.

In a statement released Thursday, Two Seas Capital argued that the deal — finalized in July — significantly undervalues Core Scientific and exposes shareholders to “substantial economic risk” while disproportionately benefiting CoreWeave. The group pointed to the 30% drop in Core Scientific’s share price following the announcement as evidence of wider investor concern.

CoreWeave, which already leases AI data centers from Core Scientific, has sought to acquire the company since 2024 to expand its data center capacity amid growing demand for AI infrastructure. Two Seas Capital insists Core Scientific is well-positioned to capture this AI-driven growth without selling at what it calls a discount.

Following the release of the opposition letter, Core Scientific’s shares rose 3% to $14.38, while CoreWeave’s stock surged nearly 9% intraday. CoreWeave has previously made multiple bids — all initially rejected — before discussions resumed in June, causing Core Scientific’s stock to spike over 23% in a single day before a correction in July.#IPOWave #BuiltonSolayer #CryptoIn401(k) #USFedBTCReserve #Notcoin