Core Scientific shares plummet further due to acquisition by CoreWeave, along with Bitcoin miner stocks | CoinDesk JAPAN

• Core Scientific's stock price plummeted by over 22% to $14 following the acquisition agreement through a stock exchange with CoreWeave. The valuation for this acquisition is set at $20.40 per share.
• Bitcoin miners HUT 8 and Cleanspark plummeted by more than 7% in stock prices on July 7.
• The acquisition price of Core Scientific is within the range of $16 to $23 per share as estimated in advance by investment bank Jefferies.

AI infrastructure company CoreWeave has agreed to acquire Bitcoin (BTC) miner Core Scientific in a stock swap transaction valuing the company at $20.40 per share based on recent closing prices.

The acquisition price is positioned near the midpoint of the acquisition price range of $16 to $23 per share estimated in advance by the investment bank Jefferies. This transaction is expected to be completed in the fourth quarter of 2025.

Core Scientific's stock price has plummeted by 22%, trading around $14 at the time of writing this article. Meanwhile, Bitcoin mining companies such as Hut 8 and CleanSpark, which are expected to enter the high-performance computing sector, recorded declines of over 7%. However, the mining company IREN, in a similar position, saw an increase of 3% instead.

The stock price of CoreWeave plummeted by 3.3%.

Analysts at Jefferies previously pointed out that CoreWeave is in a favorable position to drive large-scale M&A due to strong stock price performance following its IPO. Jefferies views this move as a strategic effort to vertically integrate CoreWeave's infrastructure and reduce reliance on long-term leases and third-party developers.

CoreWeave is in a position to leverage relatively low shareholder equity costs to replace long-term lease obligations and gain direct management control over data center assets, analysts Jonathan Petersen and Jan Aygul point out.

This transaction highlights the trend of accelerated integration in the fields of AI infrastructure and high-performance computing as vertically integrated providers pursue scale and control.

For CoreWeave, this move is not just about becoming a provider of computational resources, but about establishing a position as a full-stack infrastructure operator, which will become increasingly important as demand from AI companies and cloud-native enterprises surges.

Analysts pointed out that by acquiring the data center capacity and platform of Core Scientific, CoreWeave will expand its owned infrastructure and be able to control future capacity expansions more effectively.

Core Scientific is exploring a new lease agreement with hyperscalers, and analysts have pointed out that CoreWeave may be trying to secure that space before a new contract is finalized.

Jefferies has given Core Scientific's stock a "buy" rating and set a target price of $18.

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