Reported 4 months ago
Shares of Bitcoin miner Core Scientific surged 40% in pre-market trading following an AI deal with CoreWeave and a reported all-cash buyout offer worth over $1 billion. Core Scientific, based in Austin, Texas, recently emerged from bankruptcy and signed a 12-year hosting deal for AI services with CoreWeave, involving a $300 million investment. The mining sector has seen increased M&A activity, with CoreWeave securing $1.1 billion in new funding in May. Riot Platforms also made a hostile offer to acquire Bitfarms.
Source: YAHOO