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Core Scientific Rejects CoreWeave's Over $1B Buyout Offer
The board of Core Scientific rejected CoreWeave's offer to buy the miner for $5.75 per share.
Core Scientific (CORZ) has rejected the more than $1 billion buyout offer from cloud computing firm CoreWeave, the firm said in a press release on Thursday.
Core Scientific’s board believes that CoreWeave’s offer to buy the bitcoin BTC$92,519 miner for $5.75 per share significantly undervalues the firm.
STORY CONTINUES BELOW
The cloud computing firm made the offer to buy the miner on Tuesday, the same day the two firms signed a 200 megawatt (MW) deal to host CoreWeave's high-performance computing (HPC) services.
Shares of Core Scientific had jumped nearly 40% on Tuesday after the news of the two deals. At the time of writing, Core Scientific was trading flat in pre-market trading at $7.12.
Read more: Bitcoin Miner Core Scientific Surges After AI Deal, Report of Over $1B Buyout Offer From CoreWeave
Parikshit Mishra
Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
