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What's the deal with CORZ (Core Scientific) - unique position it seems
Posted on 7/4/25 at 8:30 am
Posted on 7/4/25 at 8:30 am
If I'm seeing this correctly, CORZ is in an extremely unique position. Currently trading at $18 but CoreWeave has placed 2 offers on the table to either acquire CORZ at an all-cash deal (estimates appear to be about $31 a share) or possibly a sweeter offer for common shareholders at an all-share deal valued around $38 share.
I'm sure there's a catch because why is the stock still trading in the teens?
I'm sure there's a catch because why is the stock still trading in the teens?
2
Posted on 7/4/25 at 8:43 am to FizzyPop
Here's a link I found. The problem is that they tried this in 2024 and it failed. Core Scientific may just want to go it alone because that offer last year was only worth like $6 a share. But according to Yahoo Finance, I agree with you that things are heating up.
CoreWeave Advanced Talks CORZ Buyout
CoreWeave Advanced Talks CORZ Buyout
This post was edited on 7/4/25 at 8:45 am
Posted on 7/4/25 at 9:33 am to FizzyPop
You dont have to look very far when this poorly managed company cratered in its BTC mining business and had to file for bankruptcy in 2024.
After Chapter 11, investors were left with getting 60 cents on the dollar. Now the primary revenue generation is still crypto security mining as they try to transition to the new hot thing which is AI computing. However so far 90% of their revenue is still from its crypto business, which it already proved is a terrible business to be in. Plus revenues are dropping every quarter down almost 50% from 2023.
They are going to have to prove alot to regain any type of investor confidence.
After Chapter 11, investors were left with getting 60 cents on the dollar. Now the primary revenue generation is still crypto security mining as they try to transition to the new hot thing which is AI computing. However so far 90% of their revenue is still from its crypto business, which it already proved is a terrible business to be in. Plus revenues are dropping every quarter down almost 50% from 2023.
They are going to have to prove alot to regain any type of investor confidence.
This post was edited on 7/4/25 at 3:44 pm
Posted on 7/4/25 at 12:31 pm to UltimaParadox
Picked this up as a spac ..lost some in bankruptcy but gained back after..
many of the miners figured they could use their computing power for mining and cloud back then.. some have morphed into ai.. basically just companies with computing centers trying to make money…
Fwiw it has been pretty profitable for me.. helps offset the others that have died on me.. not all miners morphed very well
many of the miners figured they could use their computing power for mining and cloud back then.. some have morphed into ai.. basically just companies with computing centers trying to make money…
Fwiw it has been pretty profitable for me.. helps offset the others that have died on me.. not all miners morphed very well
Posted on 7/7/25 at 8:29 am to Tomatocantender
Looks like CoreWeave has successfully purchased Core Scientific as of this morning.
If the initial acquisition reports are accurate, then this represents an all-share deal valued at $9b or $20.40 a share.
If the initial acquisition reports are accurate, then this represents an all-share deal valued at $9b or $20.40 a share.
This post was edited on 7/7/25 at 12:13 pm
Posted on 7/7/25 at 9:33 am to FizzyPop
Then why is it trading at $14.30?
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