CoreWeave is once again trying to buy Bitcoin mining company Core Scientific.. According to, report from The Wall Street Journal, talks are ongoing and a deal could be finalized within weeks. This comes nearly a year after CoreWeave’s first offer was turned down.
Back in June 2024, CoreWeave made an offer to buy Core Scientific for around $1 billion, or $5.75 per share in cash. That offer was rejected by Core Scientific’s board for undervaluing the company, as reported at the time. The new bid’s exact price and terms have not been shared publicly.
Following the news, shares of Core Scientific (ticker: CORZ) jumped more than 32.9% during Thursday’s trading session. The company is now valued at around $3.6 billion, with the stock currently trading above $16.
CoreWeave is a cloud and AI infrastructure company that supports computing for artificial intelligence and other high-powered tech needs. The company went public in March 2025 and raised $1.5 billion in its IPO. It reported $1.9 billion in revenue for 2024 and has signed deals with major tech firms like Meta, Microsoft, IBM, and OpenAI.
Core Scientific went public in January 2022 through a $4.3 billion SPAC deal. Later that year, in December 2022, it filed for Chapter 11 bankruptcy after the price of Bitcoin dropped sharply. The company exited bankruptcy in 2023 and re-listed its stock on Nasdaq.
In 2024, Core Scientific earned $502.4 million in revenue but reported a net loss of $265.5 million. That loss was mainly due to a non-cash warrant adjustment. In early 2025, it posted a first-quarter profit of $580 million.
The two companies already have a working relationship. They’ve signed several multi-year deals. One of those agreements allows Core Scientific to supply CoreWeave with around 200 megawatts of power to help run its computing services.
Shares of other crypto mining firms, such as Hut 8, IREN, and Cipher Mining, also rose following the news, though not as much as Core Scientific’s stock.
Also Read: U.S. Crypto Bill Will Pass in September: Senator Tim Scott
