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Nvidia-backed CoreWeave to buy crypto miner Core Scientific in $9 billion deal
CoreWeave will buy crypto miner Core Scientific in an all-stock deal valued at about $9 billion, the company said on Monday, as AI infrastructure firms race to secure power supply to support their surging workloads. The acquisition highlights how artificial intelligence companies are moving beyond traditional data centers and looking to repurpose the energy-intensive sites and power contracts bitcoin miners built during the crypto boom. The deal will help in the immediate elimination of more than $10 billion of cumulative future lease overhead to be paid for existing contractual sites over the next 12 years, ... (full story)
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