Important points
- Core Scientific shareholders voted against the merger with CoreWeave.
- Proxy advisors recommended voting against the deal due to undervaluation concerns.
Shareholders of Core Scientific today rejected a proposed merger with AI-focused cloud computing provider CoreWeave, blocking an acquisition deal between the Bitcoin mining and data center operator and high-performance computing infrastructure company.
Proxy advisory firms had urged Core Scientific shareholders to vote against the Coreweave merger, citing concerns that the company’s assets were undervalued.
Market participants noted strong signs that Core Scientific investors support rejecting the deal to pursue independent growth in Bitcoin mining and data centers.
