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Bitcoin Miner Core Scientific Says No To CoreWeave $1 Billion Buyout Offer

Bitcoin Miner Core Scientific Says No To CoreWeave $1 Billion Buyout Offer
In a significant move reflecting its confidence in future growth, Core Scientific, one of North America’s leading operators of high-powered digital

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Core Scientific, a major operator of digital infrastructure for Bitcoin mining, has rejected a buyout offer from CoreWeave, deeming the $5.75 per share valuation as undervaluing its potential. This decision has led to a 15.2% surge in the company's share price, reflecting investor confidence. Despite the rejection, Core Scientific and CoreWeave have established a strategic alliance through a $3.5 billion deal, positioning Core Scientific to balance its portfolio between Bitcoin mining and alternative computing services. The rejection of the acquisition proposal underscores the company's substantial growth potential and strategic value. Meanwhile, the broader crypto industry is witnessing significant consolidation and strategic maneuvering, with Bakkt, a digital asset platform, exploring potential sale options. Overall, the crypto and digital infrastructure sectors are experiencing dynamic shifts, with consolidation and strategic partnerships driving growth.

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