CoreWeave, an AI hyperscaling company, has announced it will acquire Bitcoin miner and data center provider Core Scientific in a deal valued at approximately $9 billion. This all-stock transaction is anticipated to finalize by the end of 2025 and will provide CoreWeave with 1.3 gigawatts of gross power from Core Scientific's nationwide data center operations, with potential for an additional 1 gigawatt expansion. CoreWeave’s CEO, Michael Intrator, emphasized that this acquisition is instrumental in enhancing operational efficiency and supporting future growth in the AI sector. Core Scientific’s President, Adam Sullivan, noted that this move will allow for quicker infrastructure availability for companies involved in AI innovation and boost shareholder value. The deal could also save CoreWeave over $10 billion in future lease costs over the next 12 years. CoreWeave has seen a significant surge in revenue, attributed to rising AI demand, reporting $981.6 million in the first quarter of 2025, five times higher than the previous year.

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