<ul data-eligibleForWebStory="false"><li>CoreWeave, a major AI infrastructure company, has announced the acquisition of Core Scientific, one of the largest Bitcoin mining and data center firms, in an all-stock deal valued at $9 billion.</li><li>CoreWeave will take control of 1.3 gigawatts of Core Scientific’s data center capacity, previously used for Bitcoin mining, with plans to redirect resources towards AI and high-performance computing.</li><li>The acquisition aims to enhance operating efficiency, de-risk future expansion, eliminate over $10 billion in lease overhead for CoreWeave, and generate $500 million in annual cost savings by 2027. Core Scientific shareholders will hold less than 10% of the combined company.</li><li>Core Scientific's shift towards AI infrastructure from Bitcoin mining, confirmed by this acquisition, reflects a strategic direction focusing more on AI. The combined company aims to accelerate the availability of world-class infrastructure for AI innovation.</li></ul>

CoreWeave Acquires Bitcoin Mining Company Core Scientific for $9 Billion

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