CoreWeave is in talks to acquire CoreScientific, a year after its previous unsuccessful acquisition attempt.

As reported by The Wall Street Journal, and citing people "familiar with the matter," a deal could be finalized in the coming weeks should discussions run smoothly.

The WSJ notes that no exact terms of acquisition were provided, but the digital infrastructure firm has a market value of around $3.7 billion.

Following WSJ's report, Core Scientific's shares have risen by as much as 32 percent.

DCD has contacted both Core Scientific and CoreWeave for more information.

CoreWeave previously sought to acquire Core Scientific in June 2024, offering $1bn for the company, though this was rejected by Core Scientific, which said the bid “significantly undervalued” the company.

Despite the acquisition stalling, Core Scientific and CoreWeave did agree to a significant leasing deal that same month for 200MW of capacity through a series of 12-year contracts.

Later in June 2024, CoreWeave leased a further 70MW of capacity and retains options for a further 230MW at other Core Scientific sites.

Both CoreWeave and Core Scientific were founded in 2017 as crypto firms.

CoreWeave pivoted to a GPU cloud offering, providing access to GPUs for AI applications. Core Scientific still hosts cryptomining hardware for itself and others, but is pivoting to offering AI colocation services. The company's May 2025 financial results reflected that refocus, with the company seeing a $82.8m decrease in self-mining revenue.

CoreWeave has had a strong few months, following a lower than hoped initial public offering earlier this year. Revenue for Q1 2025 was $971.63m, up 420 percent from the previous year, and the company signed a deal with OpenAI with a contractual value of $11.9 billion. Shares have risen steadily since IPO.

CoreWeave currently has 33 data centers across Europe and the US, and 420MW of active power. Recent leasing deals signed by CoreWeave include 15MW of capacity from a Merlin Edged data center in Barcelona, Spain, and the addition of 300MW of incremental contracted power to its portfolio with Flexential, Galaxy Digital, and Bulk Infrastructure.