CoreWeave to Acquire Core Scientific in $9 Billion All-Stock Deal Enhancing Crypto Mining and AI Capacity
On July 7, 2025, CoreWeave (NASDAQ: CRWV) revealed its plans to acquire Core Scientific (NASDAQ: CORZ) in a major all-stock transaction valued at approximately $9 billion. Under the agreement, Core Scientific shareholders will receive 0.1235 shares of CoreWeave Class A stock for each share they own. The deal anticipates closure in the fourth quarter of 2025, pending regulatory and stockholder approvals.
This acquisition marks a significant strategic move for both companies, aiming to enhance operational efficiency and profitability. Post-merger, CoreWeave will control about 1.3 gigawatts (GW) of power infrastructure with the potential to expand beyond 1 GW, which is critical for crypto mining and related high-performance computing (HPC) activities.
One of the key advantages of this deal is the elimination of more than $10 billion in future lease costs over 12 years, alongside expected annual cost savings of $500 million by the end of 2027. The operational streamlining is set to reduce overhead and provide CoreWeave with greater financial flexibility to invest in infrastructure, particularly expanding into AI and HPC workloads.
Michael Intrator, CEO of CoreWeave, and Adam Sullivan, CEO of Core Scientific, will steer this integration, supported by financial advisors such as Goldman Sachs & Co. LLC.
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