Core Scientific to Be Acquired by CoreWeave in a $9B Stock-Only Deal.

CoreWeave to Acquire Core Scientific in $9 Billion All-Stock Merger

CoreWeave (CRWV), a leader in cloud and AI infrastructure, has announced plans to acquire crypto-mining data center operator Core Scientific (CORZ) in an all-stock deal valued at around $9 billion.

Under the terms of the agreement, Core Scientific shareholders will receive 0.1235 shares of CoreWeave for each share they own. This values Core Scientific at $20.40 per share, representing a 66% premium compared to its share price in late June.

The merger, still pending regulatory and shareholder approval, is expected to close by the end of 2025.

CoreWeave noted that the acquisition could eliminate over $10 billion in projected lease obligations across the next 12 years and would grant access to approximately 1.3 gigawatts of gross power capacity from Core Scientific’s portfolio of data centers.

Following news of the deal, CoreWeave’s stock slipped 4% in pre-market trading, while Core Scientific shares fell about 14.7%, settling at $15.48.