Shares of Core Scientific Inc. ( CORZ ) are up Thursday following a report suggesting CoreWeave inc. ( CRWV ) is in discussions to acquire the bitcoin mining and hosting company.

What To Know: According to the Wall Street Journal, the two companies are in talks and could finalize a deal in the coming weeks if talks proceed without issue. CoreWeave ( CRWV ) previously made an unsuccessful attempt to acquire Core Scientific ( CORZ ) about a year ago, offering $5.75 per share at the time; a bid that was rejected for undervaluing the business. Core Scientific ( CORZ ) shares now trade at more than double that earlier offer, giving the company a market capitalization of roughly $3.7 billion.

Core Scientific ( CORZ ) operates one of the largest high-powered digital infrastructure platforms in North America focused on bitcoin mining and hosting services. The company has seen growing interest amid a shortage of data center space and power capacity as demand from AI-related workloads continues to rise. It also maintains a significant 12-year hosting partnership with CoreWeave ( CRWV ), delivering large-scale capacity for AI computing operations.

CoreWeave ( CRWV ), which went public in March and is valued at approximately $75 billion, specializes in cloud infrastructure for AI workloads. It serves major clients like Microsoft, its largest customer and acts as a middle layer offering access to Nvidia GPUs for firms such as Meta and IBM.

While Core Scientific ( CORZ ) shares rose on the takeover speculation, CoreWeave's ( CRWV ) stock slipped slightly reflecting typical market reactions in acquisition scenarios where the buyer faces potential integration or financing challenges.

Price Action: Core scientific shares were up 24% at $15.25 and Coreweave ( CRWV ) shares were down 1.13% at $157.80 at the time of writing, according to Benzinga pro.

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