AI infrastructure provider Coreweave (CRWV) has completed its acquisition of Core Science (CORZ) to expand its data center capabilities to support artificial intelligence and high-performance computing (HPC) workload.
Through the all-share deal, the deal values core science for approximately $9 billion. Under the terms of the agreement, existing Core Science shareholders will receive 0.1235 shares of the newly issued Coreweave Class A common stock of each Corz shareholding they hold, CoreWeave Announce on Monday.
“With this acquisition, CoreWeave will have approximately 1.3 GW of total capacity of the Core Scientific National Data Center footprint and a potential total capacity of 1 GW+ available for expansion,” the announcement said.
Core Science is one of the largest Bitcoins (BTC) Mining and custody business in North America. Although CoreWeave’s origin is a crypto minean acquisition does not necessarily mark a return to the industry.
Corz shareholders will receive a closing premium of approximately $12.30 per share on June 25.
Once the transaction is completed, core science shareholders are expected to own less than 10% of the combined company.
According to the announcement, Coreweave believes that “it is possible to re-use (core science assets) in a medium-term perspective or divest the crypto mining business.”
Related: Bitcoin mining stocks double growth at weekly rally
CoreWeave – Core Science Mergers are in Long-Term
CoreWeave has been pursuing core science Over a year, the initial 2024 bid rejection has been too low. The original offer of $5.75 per share rejected the value of core science over $1 billion.
Core Science’s market value has more than tripled in the following year, driven by the continued growth of its core business.
Company’s Revenue has doubled In the first quarter of 2025, it reached US$580 million. However, Bitcoin halving has adversely affected revenue.
Last month’s acquisition discussion resurfaces with the Wall Street Journal Report A new deal is underway to reflect the rapid growth of core science over the past year.
At the time of acquisition, Core Scientific was the 33rd largest company Bitcoin holder with 977 BTC on its balance sheet, according to To industry data.
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