Mining company Core Scientific terminates merger with CoreWeave

On October 30, Core Scientific, a publicly listed mining company in the United States, announced the termination of its merger with CoreWeave. BlockBeats previously reported that on August 8, Two Seas Capital, the largest shareholder of Core Scientific, announced it would vote against the all-stock sale to CoreWeave, claiming that the deal was undervalued and had significant structural flaws. In July of this year, CoreWeave announced an all-stock acquisition of digital infrastructure company Core Scientific. The per-share value of this transaction was $20.40. The agreed exchange ratio implies a company valuation of approximately $9 billion.

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