CoreWeave, an artificial intelligence and cloud solutions provider, has announced its intention to acquire Core Scientific, a leading cryptocurrency mining center, for approximately $9 billion.
Deal Details
CoreWeave confirmed the signing of a definitive agreement for the acquisition of Core Scientific in a press release dated July 7, 2025. The deal is set to be an all-stock transaction, with Core Scientific shareholders receiving 0.1235 newly issued CoreWeave shares for each Core Scientific share. The acquisition is expected to close in the fourth quarter, pending regulatory and shareholder approvals.
Expected Benefits
CoreWeave plans to leverage Core Scientific's infrastructure to expand its AI and high-performance computing solutions. The acquisition is anticipated to reduce CoreWeave's future lease expenses by over $10 billion over the next decade and contribute approximately 1.3 gigawatts of power capacity to its network.
Management Comments
CoreWeave CEO Michael Intrator stated that vertical integration of Core Scientific’s data center infrastructure would significantly enhance operational efficiency and reduce risks for future expansion. Core Scientific President Adam Sullivan also highlighted the longstanding partnership between the companies: 'CoreWeave has experienced firsthand the operational excellence we deliver.'
The acquisition of Core Scientific marks a significant step for CoreWeave in strengthening its position in the AI and cloud technology market, further supporting the company’s effective business model.
