Core Scientific Shareholders Reject $9B Merger with CoreWeave
The planned merger between Core Scientific, a Bitcoin mining firm, and CoreWeave, an AI and cloud data center, has been called off following a stockholder vote on October 30.
- Initial terms proposed CoreWeave would acquire Core Scientific for $20.40 per share, valuing the deal at approximately $9 billion.
- The US SEC reported that CoreWeave did not obtain enough votes to approve the merger.
- Core Scientific shares rose after the announcement, currently trading at $21.99, up from the initial deal price.
- The cancellation breaks a trend of major mergers in the cryptocurrency sector in 2025.
Other significant developments in the crypto space include:
- CoinShares announced a $1.2 billion merger with Vine Hill Capital Investment Corp, aiming for a Nasdaq listing by December 2025.
- American Bitcoin Corporation, backed by Donald Trump Jr. and Eric Trump, debuted on Nasdaq on September 4 after merging with Gryphon Digital Mining.
