Well, slap my blockchain and call me silly! Bitcoin miner Core Scientific couldn’t convince its shareholders to jump into bed with AI darling CoreWeave during their Thursday shindig. 🥳 Turns out, the shareholders were like, “Nah, we’re good, thanks!” 😂
The final tally of this voting fiasco will be spilled in an SEC filing on Friday, according to Core Scientific’s “oopsie, we tried” announcement. 📜
CoreWeave thought they had it in the bag with their $9 billion offer back in July, offering Core Scientific shareholders a measly 0.1235 shares of their Class A stock for every Core Scientific share. Talk about a garage sale deal! 🏷️
Guess what? Core Scientific’s shares took a nosedive, dropping over 5% on Thursday. Ouch! CryptoMoon tried to get the scoop, but the company was like, “No comment, we’re busy crying into our coffee.” ☕
This deal has been the talk of the town for over a year, yanking the share prices of both companies like a game of tug-of-war. It’s like Bitcoin mining and AI are having a shotgun wedding, but the in-laws aren’t happy! 💍
Shareholders’ Resistance: The Plot Thickens! 🕵️♂️
CoreWeave came knocking again in June, sending Core Scientific’s shares on a wild rollercoaster ride, soaring 23% in one day. 🎢 But hold the phone! In June 2024, Core Scientific was like, “Your $1 billion offer? That’s cute. We’re worth way more!” 💰
Since they started flirting again, Core Scientific’s stock went from “meh” to “wow,” tripling from $6.20 to $20.90. Meanwhile, CoreWeave’s shares took a vacation from $163 to $100 by July. Someone call the stock market therapist! 💹
Some Core Scientific shareholders were like, “Hold up, this deal stinks!” Two Seas Capital, the big cheese shareholder, said, “This valuation is a joke! We’re not selling our soul for peanuts!” 🥜
“The proposed sale materially undervalues the company and unnecessarily exposes its shareholders to substantial economic risk,” Two Seas Capital wrote in August. Basically, they’re saying, “We’re not falling for your shenanigans!” 🤡
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2025-10-30 23:32