Core Scientific Stock Jumps 33% Amid Buyout Talks With CoreWeave

Shares of Core Scientific soared 33% following reports that GPU cloud provider CoreWeave is in advanced talks to acquire the crypto mining company, signaling renewed investor confidence in AI-crypto convergence.

Shares of Core Scientific skyrocketed by more than 33% this week following reports that the AI-focused cloud computing firm CoreWeave is in advanced discussions to acquire the crypto mining giant. The potential deal underscores the growing synergy between the artificial intelligence and cryptocurrency sectors, sparking investor enthusiasm and driving one of the biggest one-day rallies in Core Scientific’s recent history. The stock closed at $8.65, up from $6.50, after Bloomberg first reported that CoreWeave had approached Core Scientific with an offer valued at over $1 billion, according to people familiar with the matter. Although neither company has confirmed the valuation or the deal structure, market reactions suggest investors are optimistic that a strategic merger could unlock new revenue and infrastructure potential. A Strategic Alliance in the Making If finalized, the deal would represent a major pivot in the AI and blockchain infrastructure landscape. Core Scientific, which emerged from Chapter 11 bankruptcy earlier this year, is one of the largest publicly traded crypto mining firms in the United States, operating massive data centers across Texas, Georgia, and North Dakota. It primarily focuses on Bitcoin mining, but also leases out high-performance computing capacity. CoreWeave, by contrast, specializes in GPU cloud infrastructure, powering large-scale artificial intelligence workloads, including generative AI models and scientific simulations. The company has surged in prominence as demand for AI infrastructure — especially GPU access — has exploded, outpacing supply. A merger or acquisition would potentially give CoreWeave direct access to Core Scientific’s facilities, energy contracts, and existing data infrastructure, which could be converted or supplemented for AI training and inference — a trend already gaining traction as data centers shift from crypto-specific to AI-generalized use cases. From Crypto Winter to AI Spring? The deal comes as both companies sit at pivotal inflection points. Core Scientific spent much of 2023 restructuring after a severe downturn in crypto markets led to liquidity problems. However, the rebound in Bitcoin prices and improved mining margins in early 2025 have helped stabilize the firm’s outlook. The company also announced earlier this year its intention to diversify beyond pure crypto mining. CoreWeave, meanwhile, recently raised over $1.6 billion in new capital, backed by prominent tech and venture capital firms, and has been scouting for physical data center expansion opportunities. As demand for AI model training accelerates, the need for stable, high-power infrastructure has become urgent — and Core Scientific’s facilities could offer a turnkey solution. “AI workloads are power-hungry and infrastructure-intensive,” said tech industry analyst Jonah Sanders. “Core Scientific’s real estate and power contracts are extremely valuable, and CoreWeave is sitting on capital and demand. It’s a natural match.” Market and Industry Response The stock surge reflected immediate confidence among investors that the deal, if finalized, would transform Core Scientific from a narrowly-focused crypto miner into a broader data infrastructure play. Analysts at Wedbush and JP Morgan upgraded the stock to “Outperform” following the news. Meanwhile, crypto analysts noted that a successful buyout could serve as a template for struggling mining firms looking to realign themselves with more sustainable sectors. “This is a potential roadmap out of crypto winter,” said analyst Lisa Grant of Bitwise Research. “The Bitcoin halving has squeezed mining profits. If you can lease out or adapt that same infrastructure to AI, it creates a whole new lifeline.” Regulatory and Structural Hurdles While both companies are privately managing discussions, industry insiders point to potential regulatory and operational hurdles. Any merger involving large-scale data operations and energy usage will attract scrutiny from federal energy regulators and possibly the FTC if antitrust questions arise — especially given CoreWeave’s rapid growth. There are also technical challenges: while both crypto mining and AI require substantial processing power, they demand different configurations. Bitcoin mining typically uses ASICs (application-specific integrated circuits), while AI workloads require GPUs like Nvidia’s H100 or A100, which are in short supply globally. Converting existing mining operations into GPU farms will require time, capital, and a robust supply chain strategy. CoreWeave’s recent partnerships with Nvidia and cloud clients like OpenAI and Stability AI may help streamline that transition. What Happens Next? The companies have declined to comment publicly on the deal. However, sources suggest a formal announcement could come within weeks, assuming negotiations continue without disruption. If the deal goes through, it would mark one of the largest cross-sector acquisitions in the crypto-AI convergence space to date and could trigger a wave of similar consolidations. Already, other GPU infrastructure firms — such as Lambda Labs and Crusoe Energy — are reportedly exploring partnerships with underutilized crypto data centers in the American Midwest and abroad. “This is the new arms race,” said tech strategist Fiona Li. “AI companies need land, power, and cooling — and crypto miners built all of that out over the last decade. Now it’s about repurposing it for the next generation of computing.” Conclusion The possible acquisition of Core Scientific by CoreWeave signals a turning point in both the AI and cryptocurrency sectors. What was once a divide between digital currency infrastructure and AI compute may now become a strategic overlap. If successful, the deal would validate a new business model for miners and affirm the critical importance of infrastructure adaptation in an era of rapid technological convergence. Whether this specific deal happens or not, the message is clear: infrastructure is king, and those who control it — whether for Bitcoin or for AI — will shape the next phase of the digital economy.