CoreWeave in Talks to Acquire Core Scientific After Rejected $1B Bid

Coreweave – once a miner of the cryptocurrency And now the growing AI infrastructure provider – allegedly in acquisition interviews with Core Scientific, after it increased the previously rejected offer that was made last year for Bitcoin mining.

Acceptance offer could be “completed in the company’s weeks”, The Wall Street Journal reported On Thursday he quoted resources with knowledge of discussion. No financial data were provided, although the offer would have to take into account the rapid expansion of Core Scientific in the last year.

Core Scientific shares have collected more than 23%in the reports, and trading temporarily stopped after the magazine report.

At the current values of CORE, the market capitalization of about $ 3.6 billion.

*Basic scientific shares, trading under Ticker Corz, recorded massive intraday rally. Source: Google Finance*

Growth of Core Scientific from the previous attempt to take over

As the magazine said, Coreweave offered $ 5.75 per share last year to take over for Core Scientific, appreciating the bitcoin miner of approximately $ 1 billion.

At that time Core Scientific rejected the offer and expressed the preference to deepen its existing partnership with Coreweave that included Agreement by $ 1.225 billion Increasing infrastructure support for its NVIDIA GPU.

*The shares of Coreweave, which are trading under Ticker CRWV, gathered almost 300%this year, thus increasing its market ceiling to $ 78.4 billion. Source: Google Finance*

Core Scientific’s decision to refuse the offer was eventually paid off, because its shares are now trading almost three times the original offer.

As Cointlelegraph reportedThe company’s earnings more than doubled in the first quarter, while net income reached $ 580 million. However, the income did not reach the expectations of analysts and there were $ 79.5 million. Most of these incomes ($ 67.2 million) came from self -contained.

Like other bitcoin miners, Core has credited its income and mining to a decline in Quadrennial half in April 2024, which reduced the mining rewards of the bitcoin network to 3.125 bitcoins (BTC) from 6.25 BTC.

Core Scientific is listed as 30. The largest Bitcoin holder, with 977 BTC in his books, according to industry data.

https://www.youtube.com/watch?v=3_b-7ctsvy

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