Street View: 'Strategic' $9 bln Core Scientific deal favorable for CoreWeave

Core Scientific

08/07/2025 10:32

** CoreWeave CRWV.O to buy crypto miner Core Scientific CORZ.O in an all-stock deal valued at about $9 billion

** AI infrastructure firms are racing to secure energy and data center capacity needed to power surging demand; bitcoin miners' energy-intensive sites and power contracts are prime targets

** Deal expected to close in the fourth quarter, with final price determined at that time.

WHEN CRYPTO MEETS COMPUTE

** Barclays is constructive about the opportunity for CoreWeave to vertically integrate its data center operations

** Believes deal will provide CRWV with clear visibility into future high-performance computing data center build outs

** Jefferies says terms are favorable for CORZ, especially since it requires minimal capital expenditure

** Says, deal secures for the co a developer willing to deliver hundreds of megawatts of data center capacity, something traditional developers were either unwilling or unable to provide

** Oppenheimer says move is strategic for co, "as it gains ownership of critical data center capacity"

** D.A. Davidson sees transaction akin to financial engineering, with CoreWeave using its high valuation to vertically integrate by acquiring land, buildings, and power contracts

 (Reporting by Akriti Shah in Bengaluru)

 ((akriti.shah@thomsonreuters.com))