In a renewed attempt a year after its initial bid fell through, The Wall Street Journal (WSJ), revealed the acquisition could be completed within weeks if negotiations proceed without issue, according to individuals “familiar with the matter”.
The WSJ also reported that no specific terms have been disclosed, however, Core Scientific currently holds a market valuation of approximately $3.7 billion.
The move comes as in June last year, CoreWeave made its first move to acquire Core Scientific with a $1 billion offer. However, Core Scientific rejected the proposal, stating it “significantly undervalued” the business.
Despite that rejection, the two firms signed a major leasing agreement that same month, granting CoreWeave 200MW of capacity through 12-year contracts.
Meanwhile, CoreWeave secured an additional 70MW of leased capacity and retained options for another 230MW at other Core Scientific facilities in the same month.
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