Shareholders of Core Scientific reject a $9 billion merger deal with CoreWeave due to insufficient votes. CoreWeave, an OpenAI partner, aimed to acquire Core Scientific to meet computational needs, part of a trend among AI companies. CoreWeave stock fell 6%, while Core Scientific remained stable.

Bitcoin mining involves solving complex functions to add blocks to the blockchain network. Rewards are received in Bitcoin, but mining has become more expensive. Core Scientific shareholders felt the acquisition deal undervalued the company. Nvidia has a $6.3 billion order with CoreWeave to purchase unsold capacity.

The proposed merger deal was announced in July as part of the AI industry’s move to secure power-rich infrastructure. Despite rising Bitcoin prices, mining remains challenging and costly. The story was first reported by TheStreet on Oct 31, 2025, in the Business News section.

Read more at Yahoo Finance: Texas company shareholders reject $9B acquisition by Nvidia-backed AI firm