Sign in Subscribe

Live Feed

Bitcoin Miner Core Scientific Investors Nix $9 Billion CoreWeave Merger

Core Scientific shareholders have rejected a proposed $9 billion all-stock merger with AI computing company CoreWeave, following a vote at a special meeting. The merger, which was initially announced in July, aimed to position CoreWeave within the high-powered computing space by leveraging Core Scientific's 1.3 gigawatts of power across its data centers. However, shareholders believed the deal undervalued Core Scientific, especially in light of recent trends in bitcoin mining that have made operations less profitable. Core Scientific's CEO expressed disappointment regarding the rejection but noted the importance of shareholder opinions and emphasized the intention to continue the partnership with CoreWeave despite the failed merger. Following the announcement, CoreWeave’s shares decreased by nearly 4%, while Core Scientific’s stock rose slightly.

Source 🔗

Read next

CFTC’s Pham Moves to Launch Spot Crypto Trading Without Congress

Caroline Pham, the acting head of the Commodity Futures Trading Commission (CFTC), is guiding U.S. exchanges to launch compliant retail spot crypto products, despite the absence of Congressional authority. Pham, who will eventually be succeeded by Mike Selig, has been convening discussions with regulated exchanges to initiate spot trading

CFTC’s Pham Moves to Launch Spot Crypto Trading Without Congress

Caroline Pham, the interim head of the Commodity Futures Trading Commission (CFTC), is actively working with regulated exchanges to launch compliant retail spot crypto products, despite Congress not granting the agency more direct authority. Pham is reorganizing the CFTC and aiming to establish a dedicated enforcement unit. The allowance of

CFTC’s Pham Moves to Launch Spot Crypto Trading Without Congress

Caroline Pham, the acting head of the Commodity Futures Trading Commission (CFTC), is actively working with regulated exchanges to develop retail spot crypto products. Despite the lack of Congressional authority, Pham is leveraging existing legal powers to advance these efforts, indicating confidence in the CFTC's jurisdiction over the