Core Scientific's largest shareholder plans to vote against CoreWeave's takeover bid

Two Seas Capital, the largest active shareholder of Bitcoin mining company Core Scientific (holding a 6.5% stake), announced it will vote against a $9 billion acquisition offer from AI infrastructure company CoreWeave. The investment firm believes the July deal significantly undervalues the company and notes that the 30% plunge in Core Scientific's stock price following the announcement reflects market consensus. CoreWeave has made multiple acquisition proposals since 2024, aiming to expand its AI computing infrastructure by integrating Core Scientific's data center resources. Two Seas Capital emphasizes that Core Scientific's unique strengths in energy and high-performance computing will drive long-term growth as demand for AI training surges.