CoreWeave Inc.’s $9 billion acquisition of Core Scientific Inc. has thrown investors holding the smaller company’s convertible bonds for a loop.

Now, CoreWeave has helped another crypto mining operation fully pivot. On Monday, the company announced its plans to acquire Core Scientific, a publicly traded Bitcoin miner. The acquisition, which CoreWeave said is expected to close in the fourth quarter, was an all-stock deal for about $9 billion.

CoreWeave's acquisition of Core Scientific aims to verticalize data center ownership and cut $500 million in costs by 2027. Read why CRWV stock is a Buy.

CoreWeave announced its anticipated acquisition of Core Scientific on Monday. The deal has several benefits for CoreWeave and very little risk. On Monday, July 7, AI infrastructure darling CoreWeave (NASDAQ: CRWV) announced it would be acquiring Bitcoin miner Core Scientific (NASDAQ: CORZ) in an all-stock deal.

CoreWeave’s CEO said the acquisition will enhance the company’s performance and expertise as they "continue helping customers unleash AI’s full potential."

CoreWeave, Inc. (NASDAQ: CRWV) to acquire Core Scientific, Inc. (NASDAQ: CORZ) in $9B all-stock deal to enhance data center footprint and increase profitability. Analyst maintains Neutral rating.

CoreWeave will buy crypto miner Core Scientific in an all-stock deal valued at about $9 billion, it said on Monday, as AI infrastructure firms race to secure the energy and data center capacity needed to power surging demand.

CoreWeave stock slipped after the Nvidia partner said it will acquire Core Scientific in an all-stock deal valued at around $9 billion. Monitor these important chart levels.

CoreWeave stock sank today after Needham lowered its rating on the stock from buy to hold. CoreWeave's $9 billion all-stock acquisition of Core Scientific has some investors feeling jittery about valuations.