CoreScientific shareholders are reportedly opposed to CoreWeave’s terms in the company’s acquisition proposal. They argued that the $9 billion deal underestimated the company and changed them shortly.
Financial Times It has been reported On Tuesday, citing people familiar with the issue, some shareholders hope to vote against the acquisition unless future terms change. The report said that shareholders’ votes for the transaction are not scheduled, but will take place this fall.
Corz aims to maximize shareholder value
Former Louisiana Charles Foty’s Attorney General and Kern Swick & Foty’s law firm also began an investigation into the acquisition last month. The law firm said it would like to determine whether the proposed 0.1235 shares of CoreWeave shares issued to Corz shareholders are appropriate or undervalued.
According to CoreWeave’s $9 billion acquisition valuation, the transaction represents a value of $20.40 per share based on the company’s closing price as of July 3, 2025. The Company estimated that shareholders’ ownership was less than 10%.
The FT Report did not specify the terms that the shareholders attempted to modify. According to GPU Cloud Farm, the financial impact of the acquisition will include removing cumulative future lease payments of more than $10 billion to existing contracted sites. The company is also looking to add an estimated annual cost reduction of $500 by the end of 2027.
Core Scientific CEO Adam Sullivan believes the agreement will help companies maximize shareholder value while moving forward with the company’s AI infrastructure. The company also said the acquisition will help CoreWeave establish a data center network, ensure long-term revenue growth and increase profitability.
“By verticalizing ownership of Core Scientific’s high-performance data center infrastructure, CoreWeave can significantly improve operational efficiency, exclude future expansion and enhance its growth trajectory.”
–Michael IntratorCEO and co-founder of CoreWeave.
CoreWeave previously offered to acquire Core Scientific in 2024, but the bid was rejected as being too low. The company’s proposed $5.75 per share valued Bitcoin Miner at just $1 billion. Core Scientific later proposed a $1.225 billion agreement to enhance infrastructure support for NVIDIA chips and deepen existing relationships with CoreWeave.
Corz confirmed that it aims to provide 70 megawatts of infrastructure to the Bitcoin company’s facilities in Austin, Texas in late 2025. The cloud computing provider will fund the capital investments worth approximately $3.5 billion over a 12-year term.
Core Scientifics Increases Crypto Mining Capabilities
Core Scientific It has been reported Growth of $580 million for the first quarter of the year. The company’s revenues fell slightly to $79.5 million, reducing its mining reward for BTC from 6.25 BTC to 3.125 BTC due to the quadruple half in April 2024.
Core Scientific’s first quarter revenue came from $67.2 million in self-employed revenue, $3.8 million hosted mining revenue and $8.6 million in HPC hosting. The company estimates annual colocation revenue of approximately $360 million into 2026.
Sullivan said the company intends to transform and expand its crypto mining capabilities and operational capabilities. The company also hopes to provide 250 MW of mining capacity to the Bitcoin company by the end of this year.
At the time of publication, Core Scientific retained 977 BTC; Rank 38th of all companies with Bitcoin. The company’s stock price has traded hands at $13.65, an 8% increase over the past 24 hours.