CoreWeave has completed its acquisition of Core Scientific for $9 billion in an all-stock transaction, enhancing its data center capacity for artificial intelligence and high-performance computing. Core Scientific shareholders will receive 0.1235 shares of CoreWeave Class A common stock for each share they hold. This move gives CoreWeave approximately 1.3 GW of gross power from Core Scientific's nationwide data center network, along with the potential for another 1 GW of power for future expansion. The acquisition values Core Scientific at a premium of about 66% over its recent stock price. Despite this expansion move, the acquisition does not signal a strong return to the Bitcoin mining sector, although Core Scientific remains one of the largest in North America. Prior attempts by CoreWeave to acquire Core Scientific were hampered by inadequate offers, as the latter's market value surged over the year. As of the acquisition's announcement, Core Scientific was the 33rd largest corporate Bitcoin holder with 977 BTC on its balance sheet.

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