Core Scientific Stock Jumps After CoreWeave Resumes Buyout Negotiations
A previously rejected $1B takeover bid is back on the table — but Core Scientific’s value has more than tripled since.
CoreWeave Eyes Acquisition as Core Scientific’s Valuation Soars
CoreWeave, once a crypto miner and now a rising powerhouse in AI infrastructure, is again pursuing a buyout of Core Scientific, the publicly traded Bitcoin mining firm. The move follows an earlier $5.75 per share offer that Core Scientific dismissed in 2023 for undervaluing the company.
Now, with Core Scientific’s market cap sitting around $3.6 billion, up from $1 billion at the time of the previous bid, a revised proposal is reportedly in the works, according to The Wall Street Journal, which cited unnamed sources close to the discussions.
Core Scientific stock, trading under the ticker CORZ, saw a massive intraday rally. Source: Google Finance
A deal could be finalized in the coming weeks, though financial specifics remain under wraps. The market responded swiftly: Core Scientific shares soared over 23%, triggering a temporary halt in trading after the report surfaced.
Last year’s offer — $5.75 per share — was rejected by Core Scientific as the firm chose instead to deepen its $1.225 billion partnership with CoreWeave to support Nvidia GPU infrastructure.
In retrospect, that decision seems prescient: Core Scientific’s stock now trades at nearly triple the offer price, thanks to a combination of strategic positioning in Bitcoin mining and its alignment with AI infrastructure trends.
Core Scientific Q1 2025 net income: $580 million Revenue: $79.5 million, with $67.2 million from self-mining Bitcoin held: 977 BTC, making it the 30th-largest corporate holder
Despite the earnings beat, revenue came in below expectations, largely due to the Bitcoin halving in April 2024, which cut mining rewards from 6.25 BTC to 3.125 BTC.
CoreWeave’s stock, trading under the ticker CRWV, has rallied nearly 300% this year, bringing its market cap to $78.4 billion. Source: Google Finance
CoreWeave’s Meteoric Rise Fuels Renewed Interest
Meanwhile, CoreWeave, trading under CRWV, has seen its stock skyrocket nearly 300% in 2025, pushing its market capitalization to $78.4 billion. That growth makes its renewed interest in Core Scientific both feasible and strategic, as both companies deepen their roles in the intersection of crypto mining and AI infrastructure.
As the AI race heats up, energy-hungry infrastructure and high-performance computing have become core to tech’s next frontier — and both companies are well-positioned to capitalize.
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