As a seasoned crypto investor with a deep understanding of the mining industry, I’m not surprised by Core Scientific’s rejection of CoreWeave’s buyout offer. The miner’s board has likely evaluated the potential long-term value of their company and believes that $5.75 per share significantly undervalues it.
Core Scientific (CORZ) declined a $1 billion buyout proposal from Cloud Computing Company, CoreWeave, according to a statement they released on Thursday.
The Core Scientific board is convinced that CoreWeave’s proposal to acquire Core Scientific for $5.75 per share represents an underestimation of the company’s worth.
On Tuesday, the cloud computing company extended an acquisition proposal for the miner, concurrently finalizing a 200 MW agreement to accommodate CoreWeave’s advanced computing services within their infrastructure.
As a researcher studying the stock market, I’ve observed a significant surge in Core Scientific’s share price, which rose approximately 40% on Tuesday following the announcement of two deals. However, at the moment I’m writing this, Core Scientific’s shares are trading unchanged during pre-market hours, priced at $7.12.
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2024-06-06 15:35