Bitcoin mining firm Core Scientific has reportedly turned down a $1bn acquisition proposal from AI firm CoreWeave, which is backed by substantial venture capital.
This move was made shortly after the two companies signed a new partnership agreement that was expected to generate a lot of revenue.
Core Scientific Rejects $1B Acquisition Offer
Core Scientific, a cryptocurrency mining company, rejected an unsolicited acquisition offer from CoreWeave, an artificial intelligence firm. The offer, valued at $5.75 per share, was made public earlier this week but needed to be deemed insufficient by Core Scientific’s board.
Core Scientific $CORZ rejected an unsolicited proposal from CoreWeave
Core Scientific received an unsolicited bid from CoreWeave on June 3, 2024, to acquire the company for $5.75 per share in cash.
Core Scientific’s board rejected the proposal as it undervalued the company… pic.twitter.com/UE8E8kR1cj
— InsideArbitrage (@InsideArbitrage) June 6, 2024
Subsequently, the
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