CoreWeave offers to buy Bitcoin miner Core Scientific in all-cash deal

Shares of Bitcoin miner Core Scientific (CORZ) rose by up to 40% in pre-market trading following news that cloud computing firm CoreWeave had signed a 200 MW artificial intelligence deal and reportedly offered to buy the mining company in an all-cash deal. The offer, made on Monday, values the Austin-based miner at just over $1 billion. CoreWeave also signed a 12-year deal with the miner to host AI-related services and will provide $300 million of capital investments. The mining sector has seen increased merger and acquisition activity, with Riot Platforms making a hostile offer to buy out peer Bitfarms.