In a landmark move reflecting the intensifying race for AI infrastructure dominance, CoreWeave acquires has announced its acquisition of cryptocurrency mining firm Core Scientific in a deal valued at $9 billion. Confirmed on July 7, 2025, the transaction positions CoreWeave at the forefront of next-generation data center operations optimized for artificial intelligence and high-performance computing (HPC).
As reported by Bloomberg, the deal will see CoreWeave acquires all outstanding shares of Core Scientific at $1.08 per share in a mix of cash and stock, nearly double the miner’s prior trading value. The acquisition provides CoreWeave access to over 1.2 gigawatts of data center infrastructure across North America, enhancing its ability to meet soaring demand from generative AI and machine learning workloads.
According to Reuters, the move is aimed at vertical integration—securing not only physical space and computing power but also energy-efficient operational models crucial to the future of AI scalability.
Mixed Investor Sentiment Despite Strategic Rationale
Despite the deal’s strategic implications, markets responded cautiously. As per Yahoo Finance, shares of CoreWeave acquires fell by nearly 8%, while Core Scientific’s stock dropped more than 13% in early trading. The downturn reflects investor concerns around the premium valuation and potential integration challenges.
Barron’s noted that although the merger expands CoreWeave’s footprint, the market remains skeptical about Core Scientific’s financial track record, especially given its 2022 bankruptcy filing. While the crypto miner has since restructured and rebounded, its volatile history may still weigh on investor confidence.
Analysts view the acquisition as a bold bet on future AI demand. Yet, the valuation premium and the shifting nature of Core Scientific’s business model—from crypto mining to AI hosting—are factors that leave stakeholders split on near-term outcomes.
AI Meets Crypto: A New Era of Infrastructure Convergence
At the heart of this deal lies a bigger industry narrative: the convergence of crypto infrastructure and AI computing. With energy-rich and hardware-intensive facilities already in place, Core Scientific provides CoreWeave with a fast-tracked entry into scalable AI-optimized data center operations.
CoreWeave CEO Michael Intrator called the deal “transformational,” underscoring its role in building a vertically integrated AI infrastructure platform with control over physical space, energy, and hardware deployment. Investors.com also highlighted a broader trend: crypto miners are rebranding and restructuring to serve the burgeoning AI market rather than relying solely on the increasingly volatile returns from Bitcoin mining.
This acquisition is more than a corporate reshuffling—it’s a signal that the next wave of technological infrastructure will be built not on coins, but on computation.
Sources:
https://www.barrons.com/articles/coreweave-stock-core-scientific-acquisition-8641e751
