Reported 23 days ago
CoreWeave has announced its acquisition of crypto miner Core Scientific in an all-stock deal valued at approximately $9 billion. This strategic move aims to enhance AI infrastructure by securing the necessary energy and data center capacity amidst increasing demand. The deal values Core Scientific at $20.40 per share, a 66% premium, and is expected to eliminate over $10 billion in future lease costs. The acquisition also reflects the shift of bitcoin miners towards AI-related operations, highlighting the growing importance of power resources for AI expansion.
Source: YAHOO