In fact, Core Scientific rejected a $5.75 per share takeover offer from CoreWeave the same day it signed the 200MW deal, saying it significantly undervalued the firm. When asked about the deal’s status, Sullivan said both companies are now focused on organic growth opportunities. At the same time, Core Scientific is aggressively pursuing new sites and is talking to new potential clients.
Still, unsurprisingly, the CEO of the public mining company said that if a potential suitor is willing to pay what shareholders and the board considered to be full value for the company, the firm will have to consider the offer. Despite the outright rejection of the offer, Sullivan thinks that M&A is just starting in the mining space.
