The unsolicited buyout bid followed a series of long-term business contracts in which Core Scientific would provide infrastructure for Coreweave.
Core Scientific, one of the world’s largest publicly listed mining companies, rejected an unexpected and unsolicited buyout offer from Coreweave, an AI computing and cloud services provider, on June 3.
In a press release, Core Scientific announced that after careful consideration of the unsolicited offer of $5.75 per share, its board rejected the offer, citing a low valuation for the mining company:
Core Scientific concluded that the deal “is not in the best interests of the Company and its shareholders.”