INSUBCONTINENT EXCLUSIVE:
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
will receive a premium of approximately 66% over the closing price of $12.30 per share on June 25.Upon completion of the transaction, Core
declined on Monday following the news but is up over 300% since the start of the year
Source: Yahoo FinanceRelated: Bitcoin mining stocks post double-digit gains in weekly rallyCoreWeave had been pursuing Core Scientific for
over a year, with its initial 2024 bid rejected as being too low
capitalization more than tripled over the following year, driven by sustained growth in its core business
However, revenue was adversely impacted by the Bitcoin halving.Takeover discussions resurfaced last month, with The Wall Street Journal
Scientific was the 33rd largest corporate Bitcoin holder, with 977 BTC on its balance sheet, according to industry data.Magazine: Creating
