In a groundbreaking move, CoreWeave, a leading AI infrastructure provider, has finalized the acquisition of Core Scientific, a major Bitcoin mining and data center operator, in an all-stock deal valued at $9 billion. The transaction, announced on July 7, 2025, marks a significant step in CoreWeave's expansion into high-performance computing and AI capacity.
The deal grants CoreWeave access to Core Scientific's 1.3 GW of contracted and future power capacity, positioning the company among the largest holders of U.S. data center power. This acquisition comes at a time when demand for AI compute resources far outstrips supply, giving CoreWeave a competitive edge in the rapidly evolving tech landscape.
Core Scientific, previously known for its dominance in Bitcoin mining, has been pivoting towards AI and high-performance computing workloads. The merger with CoreWeave is expected to accelerate this transition, with plans to potentially divest crypto-related assets to focus on AI infrastructure.
This acquisition follows earlier talks between the two companies, including a rejected $1 billion offer in 2024. Since then, Core Scientific's stock has tripled, reflecting its growth and strategic shift, which ultimately led to the successful $9 billion agreement this year.
The tie-up is seen as a strategic move in the AI arms race, bringing critical infrastructure in-house for CoreWeave. Industry experts predict this will strengthen CoreWeave's position as a key player in satisfying the growing global demand for advanced computing solutions.
As the tech and crypto sectors continue to intersect, this deal highlights the increasing importance of data center capacity for emerging technologies. Both companies are poised to redefine their roles in the market, with CoreWeave leading the charge in AI innovation.
Maria Lourdes
