CoreWeave Makes Another Bid to Acquire Bitcoin Mining Firm Core Scientific After 2024 Offer Was Rejected

ChainCatcher reports that, according to The Block citing the Wall Street Journal, cloud computing company CoreWeave has once again made an offer to acquire Bitcoin mining firm Core Scientific, with the deal possibly closing within weeks. This marks CoreWeave’s second attempt to acquire the company after its $1 billion offer (at $5.75 per share) in June 2024 was rejected. Following the news, Core Scientific’s stock price surged 28% in a single day, pushing its market capitalization to around $3.6 billion.

Core Scientific went public in January 2022 through a SPAC merger, but filed for bankruptcy protection in December of the same year due to a sharp drop in Bitcoin prices. After completing restructuring last year, it relisted on Nasdaq. The two companies have previously signed a multi-year cooperation agreement, with Core Scientific providing CoreWeave with approximately 200 megawatts of infrastructure to support its high-performance computing services. If this acquisition succeeds, it will accelerate the integration of AI and cryptocurrency mining infrastructure.