Bitcoin miner Core Scientific failed to win approval for a merger with AI infrastructure company CoreWeave during a shareholders meeting. The final results will be disclosed in an SEC filing on Friday. CoreWeave finalized the $9 billion acquisition in July, with Core Scientific shares falling over 5% post-vote.

The deal has impacted share prices and highlights ties between Bitcoin mining and AI. CoreWeave renewing talks in June sent its share price soaring by 23%. Core Scientific rejected a previous buyout offer in 2024. Since resuming negotiations, Core Scientific’s stock has tripled.

Meanwhile, CoreWeave’s shares fell from about $163 to a low of $100 post-deal. Core Scientific shareholders, including Two Seas Capital, opposed the buyout offer, citing undervaluation and economic risk. Two Seas Capital stated the proposed sale exposes shareholders to substantial economic risk.

Read more at Cointelegraph: Core Scientific Shareholders Thwart CoreWeave Buyout Deal