Mine Operator Core Scientific Terminates Merger with CoreWeave

BlockBeats News, October 30, Core Scientific, a US-listed mining company, announced the termination of its merger with CoreWeave.

BlockBeats previously reported that on August 8, Core Scientific's largest shareholder, Two Seas Capital, announced that they would vote against the all-stock sale to CoreWeave, stating that the transaction was undervalued and had significant structural flaws.

In July of this year, CoreWeave announced the acquisition of digital infrastructure company Core Scientific through an all-stock transaction. The agreed per-share value of this transaction was $20.40. The agreed-upon exchange ratio implied a company valuation of approximately $9 billion.