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By Francisco Rodrigues|Edited by Parikshit Mishra
Jul 7, 2025, 12:54 p.m.
Cloud and AI infrastructure firm CoreWeave (CRWV) has agreed to buy crypto-mining data center operator Core Scientific (CORZ) for roughly $9 billion in stock.
The agreement will swap each Core Scientific share for 0.1235 CoreWeave shares, valuing Core Scientific stock at $20.40, a 66% premium to its price late last month.
The transaction is expected to close by year’s end, pending regulatory and shareholder approvals.
CoreWeave said the move will eliminate more than $10 billion in future lease expenses over the next 12 years. It also gives the firm ownership of about 1.3 gigawatts of gross power capacity across Core Scientific’s data centers
CoreWeave shares have dropped 4% pre-market, whole Core Scientific shares are down around 14.7% to $15.48.
Read more: Core Scientific Soars 25% as WSJ Reports Buyout Talks With CoreWeave
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk’s $1,000 disclosure threshold.
