In a significant development within the tech and cryptocurrency sectors, CoreWeave has reignited negotiations to acquire Core Scientific. After last year’s unsuccessful attempt, which involved a $1 billion offer that was deemed insufficient, the landscape has shifted dramatically with rising demand for AI services and narrowing margins in Bitcoin mining.
On June 26, 2025, it was reported that CoreWeave, an AI cloud infrastructure provider backed by Nvidia, is back at the negotiating table. The latest discussions aim to secure a deal that could position CoreWeave favorably against competitors like Amazon Web Services and Google Cloud in the fiercely contested AI race.
Key Factors Behind the Negotiation
- The initial offer of $5.75 per share was rejected due to its perceived undervaluation of Core Scientific.
- Core Scientific’s stock witnessed a striking 28% increase following the news of renewed talks, nearing a valuation of $4 billion.
- In contrast to its previous struggles, Core Scientific has emerged from bankruptcy with a streamlined operation and a robust balance sheet, making it a strategic target for acquisition.
CoreWeave’s push to acquire Core Scientific is largely motivated by the need for high-performance computing infrastructure, a critical component in the ongoing AI revolution. Core Scientific, with its facilities optimized for energy efficiency and high-density computing, offers invaluable resources that align perfectly with CoreWeave’s requirements.
Understanding the Value Proposition
The existing relationship between the two firms, highlighted by a significant contract for 200 megawatts of power supply, is testament to their collaborative potential. Given that energy is becoming an increasingly scarce resource in the tech landscape, controlling this crucial infrastructure could provide CoreWeave with a competitive edge and greater operational flexibility.
For Core Scientific, the implications of this acquisition could be transformative. After a turbulent period characterized by market volatility and reduced mining rewards, the company’s recent $580 million profit, partly attributed to rising Bitcoin prices, suggests it is no longer an ailing asset but a valuable player in the evolving tech ecosystem.
The convergence of AI and Bitcoin mining reflects the shift in digital infrastructure, where energy assets become a focal point in both domains. As discussions unfold, industry watchers will be keen to see how this anticipated agreement could reshape the landscape of both AI and cryptocurrency.
