🤝💰 BIG MOVE! CoreWeave Eyes Core Scientific Takeover - Stocks SOAR! 📈
Big news in tech & crypto! CoreWeave, a company that switched from crypto mining to building powerful AI tech, is reportedly in talks to buy Bitcoin $BTC miner Core Scientific!
Here’s the scoop:
1. Higher Offer: CoreWeave made a bigger bid after Core Scientific turned down an earlier offer last year. 💸
2. Deal Soon? Talks are serious, and a deal could be finalized within weeks (exact price still private).
3. Stock Surge! 🚀 Just the news of the talks sent Core Scientific's stock (CORZ) soaring over 23% – so much it briefly paused trading! The company is now worth around $3.6 billion.
4. Smart Move? Last year, CoreWeave offered $5.75/share (valuing Core Scientific at ~$1 billion). Core Scientific said "no" and instead signed a $1.2+ billion deal with CoreWeave to support AI tech using Nvidia GPUs. That decision paid off BIG time – CORZ stock now trades at nearly TRIPLE last year's offer price! ✅
5. CoreWeave's Rise: CoreWeave (CRWV) is also on fire 🔥 – its stock is up nearly 300% this year, making it worth a huge $78.4 billion.
6. Core Scientific's Performance: Their Q1 earnings more than doubled to $580 million! However, revenue ($79.5M) was slightly below expectations. Mining revenue dipped partly due to the Bitcoin $BTC halving in April 2024 (rewards cut in half). ⚡
7. Bitcoin Holder: Core Scientific holds 977 BTC, making it one of the top corporate Bitcoin owners (#30). ₿
Why it matters: This potential deal shows the growing connection between powerful computing (AI infrastructure) and the #Bitcoin mining world! Core Scientific's strategy is shaping its future.