In the shadow of the ever-churning gears of capitalism, a union has been forsaken. The Bitcoin miners of Core Scientific, with their pickaxes of code and their dreams of digital gold, have risen against the marriage brokers. On the fateful day of October 30th, their voices echoed through the halls of the stockholder meeting, a resounding “nyet” to the $9 billion embrace of CoreWeave, the cloud-dwelling titan of artificial intelligence.
Back in July, when the sun of optimism shone brightly, CoreWeave had promised a dowry of $20.40 per share, a total of $9 billion. Yet, the miners, ever wary of the whims of the market, saw through the glittering facade. The SEC, that watchful guardian of financial order, confirmed the rejection – the requisite votes, like a missing cog in a grand machine, were absent.
The Miners’ Revolt: A Tale of Unyielding Spirits
Filing Tracker, that digital herald of corporate news, proclaimed the demise of the deal with a stark tweet: “$CORZ Acquisition by CoreWeave $CRWV TERMINATED: ” – a digital tombstone for a union never consummated.
$CORZ Acquisition by CoreWeave $CRWV TERMINATED:
– Filing Tracker (@TrackFilings) October 30, 2025
Michael Intrator, the CEO of Core Scientific, donned the mask of magnanimity, declaring in a press release that CoreWeave respects the will of the shareholders. “Our commercial partnership endures,” he intoned, though one could almost hear the unspoken sigh of a general after a lost battle. “CoreWeave’s strategy remains unchanged,” he added, a declaration as hollow as a drum in the wind.
The Market’s Whims: A Dance of Numbers
When the merger was first announced, the market, that fickle mistress, reacted with a swift kick. Core Scientific shares plummeted 22%, while CoreWeave suffered a more modest 4.5% downturn. Yet, in the wake of the rejection, Core Scientific shares have risen to $21.99, a defiant gesture against the naysayers.
Core Scientific remains up more than 5% | Source: TradingView
This cancellation stands as a rare moment of rebellion in the cryptocurrency realm, a sector where mergers and SPAC deals have become as common as the changing of the seasons. Yet, even as this union crumbles, others rise. CoinShares, the European crypto behemoth, has announced a $1.2 billion merger with Vine Hill Capital Investment Corp, aiming for a Nasdaq listing by December 2025. And let us not forget the Trump-backed American Bitcoin Corporation, which made its Nasdaq debut on September 4th, a testament to the enduring allure of digital gold.
In this grand theater of finance, where fortunes rise and fall with the click of a mouse, the miners of Core Scientific have spoken. Their “nyet” echoes through the digital canyons, a reminder that even in the age of algorithms, the human spirit, with its stubbornness and its whims, remains unconquered. 🏛️💰
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2025-10-30 23:12