Cloud and AI infrastructure company Coreweave (CRWV) has agreed to buy crypto mining data center operator Core Scientific (CORZ) for approximately $9 billion in inventory.
this protocol Each Core Science share will be exchanged for 0.1235 Coreweave stock, and the Core Science stock will be evaluated at $20.40, with a price of 66% at the end of last month.
The transaction is expected to end by the end of the year, awaiting regulatory and shareholder approval.
Coreweave said the move will cancel more than $10 billion in future rental fees over the next 12 years. It also gives the company in the core science data center a company with approximately 1.3 GW of corporate ownership
CoreWeave shares have fallen 4% in the former market, with the overall Core Scientific share down 14.7% to $15.48.
Read more: WSJ Reports Engagement Dialogue with CoreWeave, Core Science Soars 25%
