Core Scientific Rejects CoreWeave's $1 Billion Buyout Offer

Bitcoin miner Core Scientific turns down acquisition bid, citing undervaluation despite lucrative HPC contract.

Core Scientific and CoreWeave signed a 12-year contract for 200 MW of high-performance computing services.
CoreWeave offered to buy Core Scientific for $5.75 per share, totaling over $1 billion.
Core Scientific's board deemed the offer insufficient and not in shareholders' best interests.
The company's stock surged 40% following the HPC deal announcement.
Core Scientific aims to leverage its infrastructure to support AI applications and stabilize revenue.