CoreWeave’s Strategic Acquisition of Core Scientific

In a significant move within the information technology sector, CoreWeave, an AI Hyperscaler™, has announced its definitive agreement to acquire Core Scientific, a leading data center infrastructure provider. This all-stock transaction, announced on July 7, 2025, marks a pivotal step for CoreWeave in its strategy to enhance its data center footprint and future-proof its revenue growth.

Under the terms of the merger, Core Scientific shareholders will receive 0.1235 newly issued shares of CoreWeave Class A common stock for each share of Core Scientific common stock. This acquisition is particularly strategic for CoreWeave, especially following its successful IPO in March 2025. By integrating Core Scientific’s infrastructure, CoreWeave will own approximately 1.3 GW of gross power across Core Scientific’s national data center footprint, with an additional 1 GW+ of potential gross power available for expansion.

Michael Intrator, CoreWeave’s Chief Executive Officer, Chairman of the Board, and co-founder, emphasized the strategic importance of this acquisition. “This acquisition accelerates our strategy to deploy AI and HPC workloads at scale,” he stated. “Verticalizing the ownership of Core Scientific’s high-performance data center infrastructure enables us to enhance our service offerings and profitability.”

U.S. Bitcoin Miners Call for Tax Reform

In parallel to the acquisition news, U.S. Bitcoin miners are advocating for a commodity-style tax reform. The current tax regime, which imposes immediate taxation on newly mined Bitcoin as ordinary income followed by capital gains tax upon sale, is seen as a significant burden. This double taxation is not faced by traditional commodity industries like gold or oil, putting U.S. miners at a competitive disadvantage.

Publicly traded companies such as MARA Holdings, Riot Platforms, and CleanSpark are leading the call for change. They argue that the IRS’s classification of Bitcoin as property rather than a commodity forces miners to liquidate Bitcoin prematurely to cover tax liabilities, potentially destabilizing the market.

The call for reform is timely, as miners navigate a post-halving environment where operational efficiency and cost management are crucial. Aligning Bitcoin taxation with that of commodities could redefine miners’ capital expenditure strategies and enhance their competitive edge.

CoreWeave’s Continued Growth Amidst Acquisition Talks

Amidst these developments, CoreWeave’s stock has continued to perform well, rising about 313% from its IPO price of $40 to $165.20. This growth is attributed to investor optimism following CoreWeave’s deployment of Nvidia’s next-generation AI chips, the Blackwell Ultra GPUs, making it the first cloud provider to do so.

However, despite the positive momentum, many Wall Street analysts remain cautious about CoreWeave’s stock due to valuation concerns. The company’s recent talks to acquire Core Scientific have also been a focal point, highlighting its aggressive expansion strategy in the AI and data center infrastructure sectors.

As CoreWeave navigates these strategic acquisitions and the evolving landscape of AI technology, its ability to integrate and leverage Core Scientific’s infrastructure will be crucial in maintaining its growth trajectory and enhancing its market position.