CoreWeave has once again proposed to acquire the Bitcoin mining company Core Scientific after its offer was rejected in 2024

According to ChainCatcher, citing The Block and The Wall Street Journal, cloud computing company CoreWeave has once again proposed to acquire Bitcoin mining company Core Scientific, with the deal expected to be completed in a few weeks. This is CoreWeave's second attempt to acquire the company after its $1 billion (at $5.75 per share) offer was rejected in June 2024. Following this news, Core Scientific's stock price surged 28% on the same day, bringing its market capitalization to approximately $3.6 billion.

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