Reported 4 months ago
CoreWeave Inc., a cloud computing provider, has made an all-cash bid of $5.75 per share, totaling about $1 billion, to acquire Bitcoin miner Core Scientific Inc. in an effort to expand AI data center capacity. As part of this, Core Scientific will provide infrastructure for CoreWeave's operations, potentially generating $3.5 billion in revenue. The offer represents a 55% premium to Core Scientific’s three-month price average and has resulted in Core Scientific's stock jumping 35% to $6.59 in New York, with a market value of approximately $1.2 billion.
Source: YAHOO