CoreWeave Acquires Core Scientific for $9 Billion
CoreWeave, a Nasdaq-listed AI and cloud solutions provider, has acquired Core Scientific, a leading cryptocurrency mining data center, for about $9 billion. The deal, announced on July 7, 2025, is an all-stock transaction. CoreWeave will give Core Scientific shareholders 0.1235 of its shares for each Core Scientific stock.
This acquisition is a significant step for CoreWeave. It aims to use Core Scientific’s infrastructure to boost its AI and high-performance computing solutions. Michael Intrator, CEO of CoreWeave, believes this move will enhance operating efficiency and support future growth.
CoreWeave expects several benefits from this deal. These include improved operational efficiency, better financing options, and lower costs. The company also anticipates reducing future lease expenses by over $10 billion in the next decade. Additionally, Core Scientific’s platform will add about 1.3 gigawatts of power capacity to CoreWeave’s network.
Adam Sullivan, CEO of Core Scientific, noted that CoreWeave has seen the value of their services firsthand. the two companies have collaborated before, including a $1.2 billion expansion in Texas.
Core Scientific stockholders will own less than 10% of the combined company. The deal is expected to close in the fourth quarter, pending regulatory approval and shareholder consent.
