Key Information:

• Core Scientific shares declined over 22% to $14 following the announcement of its all-stock sale to CoreWeave at $20.40 per share.
• Competitors like HUT 8 and Cleanspark saw drops of more than 7% on the same day.
• According to investment bank Jefferies, the offer price is consistent with their prior estimates, which suggested a range of $16–$23 per share.
• The deal is poised to close in the fourth quarter of 2025.

Analysis from Jefferies points out that the transaction will enhance CoreWeave’s vertical integration and diminish its reliance on third-party providers. Jefferies perceives that this move fortifies CoreWeave’s infrastructure while potentially elevating its ability to expand operational capacity. Furthermore, it positions CoreWeave not merely as a compute supplier, but as an all-encompassing infrastructure operator, crucial for fulfilling the burgeoning demands of AI and cloud-native enterprises.

For additional details, refer to the full article on CoinDesk: CoreWeave to Acquire Core Scientific.