CoreWeave’s CEO said the acquisition will enhance the company’s performance and expertise as they "continue helping customers unleash AI’s full potential."

CoreWeave announced its anticipated acquisition of Core Scientific on Monday. The deal has several benefits for CoreWeave and very little risk. On Monday, July 7, AI infrastructure darling CoreWeave (NASDAQ: CRWV) announced it would be acquiring Bitcoin miner Core Scientific (NASDAQ: CORZ) in an all-stock deal.

Now, CoreWeave has helped another crypto mining operation fully pivot. On Monday, the company announced its plans to acquire Core Scientific, a publicly traded Bitcoin miner. The acquisition, which CoreWeave said is expected to close in the fourth quarter, was an all-stock deal for about $9 billion.