Core Scientific Nears Potential Acquisition by CoreWeave in AI Infrastructure Expansion

Core Scientific (CORZ) shares surged 32% intraday – their biggest single-day gain since 2024 – following reports of revived acquisition talks with AI cloud provider CoreWeave, in a deal that could reshape North America's digital infrastructure landscape.

Deal Dynamics

• Valuation Shift:

CoreWeave's 2024 offer: $5.75/share (~$1B valuation) – rejected as "too low"

Current CORZ price: $16.18 (market cap: $4.4B)

• Strategic Synergy:

200MW hosting deal signed June 2024 (12-year term)

Combines CORZ's bitcoin mining infrastructure with CoreWeave's AI cloud needs

Market Context

🚀 CoreWeave's 350% stock surge since March 2025 IPO

⚡ CORZ's HPC pivot: 22% revenue now from non-crypto clients

💰 Deal could unlock $2B+ in combined AI/blockchain infrastructure value

Timeline:

Advanced negotiations resumed in June

Potential agreement within weeks if terms finalized

Why It Matters:

Creates AI-mining hybrid infrastructure leader

Validates bitcoin miners' HPC adaptability

May trigger sector consolidation among public miners$BTC