tl;dr
Core Scientific (CORZ) has rejected a more than $1 billion buyout offer from cloud computing firm CoreWeave. The offer, at $5.75 per share, was deemed to significantly undervalue the bitcoin miner by Core Scientific's board. This rejection comes on the same day the two firms signed a 200 megawatt (M...
Core Scientific (CORZ) has rejected a more than $1 billion buyout offer from cloud computing firm CoreWeave. The offer, at $5.75 per share, was deemed to significantly undervalue the bitcoin miner by Core Scientific's board.
This rejection comes on the same day the two firms signed a 200 megawatt (MW) deal to host CoreWeave's high-performance computing (HPC) services. Following the news of these deals, Core Scientific's shares surged nearly 40% on Tuesday.
As of the latest update, Core Scientific's stock was trading flat in pre-market trading at $7.12.
Core Scientific (CORZ) has rejected the more than $1 billion buyout offer from cloud computing firm CoreWeave, the firm said in a press release on Thursday. Core Scientific’s board believes that CoreWeave’s offer to buy the bitcoin (BTC) miner for $5.75 per share significantly undervalues the firm. The cloud computing firm made the offer to buy the miner on Tuesday, the same day the two firms signed a 200 megawatt (MW) deal to host CoreWeave's high-performance computing (HPC) services. Shares of Core Scientific had jumped nearly 40% on Tuesday after the news of the two deals. At the time of writing, Core Scientific was trading flat in pre-market trading at $7.12.
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