Core Scientific Rejects $1 Billion Buyout Offer from CoreWeave Over Undervaluation Concerns
Core Scientific has declined a $1 billion acquisition offer from CoreWeave, a cloud computing company, as the board believes the offer of $5.75 per share undervalues the bitcoin miner. The offer was made on the same day the two companies signed a 200 MW deal to host CoreWeave's high-performance compute services. Following the news of the two deals, Core Scientific's shares rose by almost 40% on Tuesday, but were trading flat in pre-market trading at $7.12 at the time of writing.
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