Cloud and AI infrastructure firm Coreweave (CRWV) agreed to buy a crypto-mining data center operator core scientific (CORZ) for about $ 9 billion in stock.
The Agreement will kill each major scientific part for the 0.1235 coreweave shares, which costs the basic stock to scream at $ 20.40, a 66% premium on its price last month.
The transaction is expected to close by the end of the year, waiting for the regulation and shareholder to be approved.
Coreweave said the move will remove more than $ 10 billion in future rent costs over the next 12 years. It also provides firm’s ownership of nearly 1.3 gigawatts of gross power capacity throughout the scientific data centers
Coreweave shares drop by 4% pre-market, the entire scientific shares dropped around 14.7% to $ 15.48.
Read more: Core Scientific Soars 25% As WSJ reported Buying Coreweave talks
