Core Scientific's shares soared after it was reported that the company had resumed talks to acquire Core Scientific (CORZ).
Last year, CoreWeave made a takeover bid of $5.75 per share for CoreScientific.
The offer was previously rejected as being too low. At the time, it would have valued CoreScientific at about $1 billion.
However, recent reports suggest that CoreWeave has made another acquisition offer with improved terms and that negotiations could close within the next few weeks.
The specific acquisition price has not been disclosed, but CoreScientific's rapid growth rate must be taken into consideration.
CoreScientific's shares surged more than 23%, briefly halting trading. CoreScientific's current market capitalization is
CoreScientific rejected CoreWeave's acquisition offer at the time, choosing instead to strengthen its existing partnership.
Core Scientific recently signed a $1.225 billion contract to expand its GPU infrastructure at Intel. As a result, Core Scientific's choice appears to have been the right one. Current stock price
The valuation was three times higher than the proposed acquisition price at the time, and net income for the first quarter of 2024 more than doubled to $580 million. However, sales fell short of market expectations, reaching $79.5 million.
Of the total, $67.2 million was generated by in-house mining. Core Scientific attributes the Bitcoin halving (a decrease in block rewards) that occurred in April 2024 to the decline in revenue.
The halving caused the block reward to decrease from 6.25 BTC to 3.125 BTC.
Meanwhile, Core Scientific is the largest cryptocurrency in the industry based on its current holdings of 977 BTC.
It is recorded as the 30th largest Bitcoin holder.
2025/06/27 14:34 KST
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