Reported 6 months ago
Bitcoin miner Core Scientific Inc. has rejected an unsolicited $1 billion takeover offer from artificial intelligence startup CoreWeave Inc. despite a recent partnership projecting $3.5 billion in revenue. Core Scientific is a major digital-asset miner with the ability to convert data centers into high-performance computing facilities for generative AI applications. The rejection caused Core Scientific's shares to surge 16% to $8.30 and the company has identified significant HPC capacity, making it a top digital infrastructure provider. The rejection was due to the board deeming the proposal undervalued the company and did not align with shareholders' best interests.
Source: YAHOO