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Bitcoin Magazine
CoreWeave Acquires Bitcoin Mining Company Core Scientific for $9 Billion
CoreWeave (NASDAQ: CRWV), a main AI infrastructure firm, introduced right this moment it will purchase Core Scientific (NASDAQ: CORZ), one of the largest Bitcoin mining and information heart corporations, in an all-stock deal valued at $9 billion.
CoreWeave to purchase Core Scientific in $9 billion all-stock deal https://t.co/J26BCkDCnU— CNBC (@CNBC) July 7, 2025
“Under the terms of the merger agreement, Core Scientific stockholders will receive 0.1235 newly issued shares of CoreWeave Class A common stock for each share of Core Scientific common stock based on a fixed exchange ratio,” acknowledged the announcement.
CoreWeave will take management of 1.3 gigawatts of Core Scientific’s information heart capability, much of it at present used for Bitcoin mining. However, the firm signaled plans to redirect these sources toward AI and high-performance computing (HPC), marking a main step away from Bitcoin operations.
“This acquisition accelerates our strategy to deploy AI and HPC workloads at scale,” stated the CEO, Chairman of the Board, and co-founder of CoreWeave Michael Intrator. “Verticalizing the ownership of Core Scientific’s high-performance data center infrastructure enables CoreWeave to significantly enhance operating efficiency and de-risk our future expansion, solidifying our growth trajectory. Owning this foundational layer of our platform will enhance our performance and expertise as we continue helping customers unleash AI’s full potential.”
The acquisition will remove over $10 billion in lease overhead for CoreWeave and is anticipated to generate $500 million in annual value financial savings by 2027. Upon closing in late 2025, Core Scientific shareholders will maintain less than 10% of the mixed firm.
Core Scientific, a main participant in Bitcoin mining, started shifting its focus to AI after rising from chapter and relisting on Nasdaq in 2024. This acquisition confirms that route, signaling a future centered more on AI infrastructure than Bitcoin.
“As our longstanding partner, CoreWeave has experienced firsthand the operational excellence we deliver and the value of the services we provide,” said the President and CEO of Core Scientific Adam Sullivan. “Together with CoreWeave, we will be well-positioned to accelerate the availability of world-class infrastructure for companies innovating with AI while delivering the greatest value for our shareholders, who will be able to participate in the tremendous upside potential of the combined company.”
This publish CoreWeave Acquires Bitcoin Mining Company Core Scientific for $9 Billion first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.
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