Core Scientific Shareholders to Vote on CoreWeave Merger Oct. 30

Core Scientific will hold a special shareholder meeting on October 30 to vote on its proposed merger with AI cloud firm CoreWeave, valued at $15.64 per share.

Shareholder Meeting Scheduled

Bitcoin mining firm Core Scientific has set October 30 as the date for its special shareholder meeting to decide on the proposed merger with CoreWeave, a fast-growing AI cloud computing provider.

According to a definitive proxy filed with the SEC, the meeting will be held virtually. Investors will vote on the July 7 merger agreement under which Core Scientific would become a wholly owned subsidiary of CoreWeave.

Deal Terms and Investor Reaction

If approved, Core Scientific shareholders will receive 0.1235 shares of CoreWeave Class A common stock for each Core Scientific share. Based on CoreWeave’s September 25 closing price, this equates to about $15.64 per share — a 27% premium over Core Scientific’s stock price prior to news of the deal in June.

The Core Scientific board of directors has unanimously endorsed the merger, urging shareholders to vote in favor.

Pushback From Major Investors

However, opposition has emerged. Two Seas Capital, one of Core Scientific’s largest shareholders, urged stockholders to reject the deal, claiming it undervalues Core Scientific and shifts too much upside to management.

The October 30 vote will determine whether Core Scientific remains a standalone Bitcoin miner and data center operator or joins CoreWeave, which is rapidly scaling its footprint in AI and high-performance computing infrastructure.