CoreWeave acquires Bitcoin mining giant Core Scientific for $9 billion in an all-stock deal, boosting its data center capacity for AI and high-performance computing.
AI infrastructure provider CoreWeave (CRWV) has finalized its acquisition of Core Scientific (CORZ), aiming to expand its data center capacity to support artificial intelligence and high-performance computing (HPC) workloads.
The deal values Core Scientific at approximately $9 billion through an all-stock transaction. Under the terms of the agreement, existing Core Scientific shareholders will receive 0.1235 shares of newly issued CoreWeave Class A common stock for each CORZ share they hold, CoreWeave announced Monday.
“Through this acquisition, CoreWeave will own approximately 1.3 GW of gross power across Core Scientific’s national data center footprint with an incremental 1 GW+ of potential gross power available for expansion,” the announcement said.
