Proposal Significantly Undervalues the Company and Is Not in the Best Interests of Core Scientific and its Shareholders
Core Scientific Remains Focused on Executing Previously Announced Series of 12-Year Contracts with CoreWeave, which Are Expected to Generate Over $3.5 Billion in Cumulative Revenue
No Shareholder Action Required
AUSTIN, Texas–(BUSINESS WIRE)–$CORZ #aicloud–Core Scientific, Inc. (NASDAQ: CORZ) (“Core Scientific” or the “Company”), one of the largest owners and operators of high-powered digital infrastructure for bitcoin mining and hosting services in North America, today confirmed that it received an unsolicited non-binding proposal from CoreWeave on June 3, 2024 to acquire all of the outstanding shares of the Company on a fully diluted basis for $5.75 per share in cash. This unsolicited proposal immediately followed Core Scientific and CoreWeave entering into a series of 12-year contracts for Core Scientific to provide approximately 200 MW
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