Core Scientific falls short of shareholder votes for CoreWeave buyout

Core Scientific did not receive the required shareholder approval for its merger with AI infrastructure company CoreWeave during a Thursday meeting, despite CoreWeave finalizing the $9 billion acquisition terms in July, contingent on shareholder consent. Under the deal, Core Scientific shareholders would receive 0.1235 shares of CoreWeave Class A common stock per share. The deal has been closely watched as it highlights the increasing convergence between the Bitcoin mining and artificial intelligence sectors. Opposition to the buyout had been signaled by some shareholders, notably Two Seas Capital, the largest active shareholder, who argued in August that the proposed sale "materially undervalues the company and unnecessarily exposes its shareholders to substantial economic risk." Following the news, Core Scientific's shares dropped over 5% on Thursday, while the stock had previously tripled from its April 2025 low amid renewed negotiations.

(Source：Cointelegraph)