Core Scientific shares soar as CoreWeave revives buyout talks

CoreWeave’s previous takeover bid for Bitcoin miner Core Scientific was rejected for being too low.

CoreWeave — once a cryptocurrency miner and now a rising AI infrastructure provider — is reportedly in acquisition talks with Core Scientific, after increasing a previously rejected bid made last year to the Bitcoin mining firm.

A takeover bid could be “finalized in the company weeks,” The Wall Street Journal reported on Thursday, citing sources with knowledge of the discussions. No financial details were provided, though the offer would have to account for Core Scientific’s rapid expansion over the past year.

Shares of Core Scientific rallied more than 23% on the news, with trading temporarily halted after the Journal’s report. 

Read more