Core Scientific stockholders reject CoreWeave merger proposal

Core Scientific Inc. (NASDAQ: CORZ) stockholders did not approve the proposed merger with CoreWeave Inc. (NASDAQ: CRWV) at a special meeting held today, the digital infrastructure company announced.

The company stated it did not receive the requisite number of votes needed to approve the previously announced merger agreement. Core Scientific will report the final voting results in a Form 8-K filing with the U.S. Securities and Exchange Commission.

Core Scientific operates digital infrastructure for high-density colocation services and digital asset mining. The company runs purpose-built facilities across 10 locations in Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma and Texas.

The company currently derives the majority of its revenue from digital asset mining but is transitioning to increase revenue from high-density colocation services. Core Scientific plans to repurpose its existing mining facilities to support artificial intelligence-related workloads and colocation computing services.

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