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CoreWeave (NASDAQ: CRWV), a major AI infrastructure company, announced<\/a> today it will acquire Core Scientific (NASDAQ: CORZ), one of the largest Bitcoin mining and data center firms, in an all-stock deal valued at $9 billion.<\/p>\n \u201cUnder the terms of the merger agreement, Core Scientific stockholders will receive 0.1235 newly issued shares of CoreWeave Class A common stock for each share of Core Scientific common stock based on a fixed exchange ratio,\u201d stated the announcement.\u00a0<\/p>\n CoreWeave will take control of 1.3 gigawatts of Core Scientific\u2019s data center capacity, much of it currently used for Bitcoin mining. However, the company signaled plans to redirect those resources toward AI and high-performance computing (HPC), marking a major step away from Bitcoin<\/a> operations.<\/p>\n \u201cThis acquisition accelerates our strategy to deploy AI and HPC workloads at scale,\u201d said the CEO, Chairman of the Board, and co-founder of CoreWeave Michael Intrator. \u201cVerticalizing the ownership of Core Scientific\u2019s high-performance data center infrastructure enables CoreWeave to significantly enhance operating efficiency and de-risk our future expansion, solidifying our growth trajectory. Owning this foundational layer of our platform will enhance our performance and expertise as we continue helping customers unleash AI\u2019s full potential.\u201d<\/p>\n The acquisition will eliminate over $10 billion in lease overhead for CoreWeave and is expected to generate $500 million in annual cost savings by 2027. Upon closing in late 2025, Core Scientific shareholders will hold less than 10% of the combined company.<\/p>\n