$9B Merger: Coreweave Acquires Core Scientific

Coreweave will acquire data center operator Core Scientific in an all-stock transaction valued at approximately $9 billion. The deal, announced Monday, is expected to close in the fourth quarter of 2025.

Coreweave Adds 1.3 GW Power via Core Scientific Buy

Under the agreement, Core Scientific stockholders will receive 0.1235 shares of Coreweave Class A common stock for each share they own. Based on Coreweave’s closing price of $165.18 on July 3, 2025, this implies a value of $20.40 per Core Scientific share, representing a 66% premium to Core Scientific’s unaffected share price on June 25.

Post-closing, the announcement shared with Bitcoin.com News says Core Scientific stockholders will own less than 10% of the combined company. Coreweave stated on Monday that the acquisition enables it to directly own Core Scientific’s infrastructure, including approximately 1.3 gigawatts of gross power capacity across U.S. data centers, plus over 1 gigawatt of potential expansion capacity.

The company expects to eliminate more than $10 billion in cumulative future lease payments over the next 12 years.

Coreweave CEO Michael Intrator said owning the infrastructure would enhance operational efficiency and reduce expansion risks. Core Scientific CEO Adam Sullivan highlighted the combined company’s potential to accelerate artificial intelligence (AI) infrastructure availability.

Financially, Coreweave anticipates the deal will be leverage-neutral and generate $500 million in annual cost savings by late 2027. It also opens access to more favorable infrastructure financing. Coreweave noted the potential to repurpose or divest Core Scientific’s cryptocurrency mining operations.