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TechJun 29, 2025

$5B Core Scientific Is Once Again on CoreWeave’s Bidding Block As AI Compute Demand Continues to Rise

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Sometimes persistence pays off in the corporate world — or maybe it’s just desperation dressed as determination. CoreWeave is reportedly circling back to acquire Core Scientific after the bitcoin mining firm shot down their initial offer as inadequate last year. The AI infrastructure heavyweight, now valued at $75B following its March public debut, appears ready to pay more this time around. News of the renewed discussions sent Core Scientific’s shares up 43.4% this past week.

CoreWeave’s original bid valued the bitcoin miner at just $1B, but its market cap has since soared to nearly $5B — a fivefold increase in expectations.
The partnership between these firms already generates substantial revenue, with Core Scientific’s 12-year hosting agreements expected to deliver $10.2B in commitments.

Deal or no deal: The timing reflects CoreWeave’s aggressive expansion strategy as Microsoft — representing 62% of its revenue — and other tech giants race to secure AI computing power. The acquisition would deepen their infrastructure ties while giving CoreWeave more control over the data center capacity that has become gold during the AI boom. With talks potentially wrapping within weeks, investors are betting this second courtship will prove more successful than CoreWeave’s first romantic overture.