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What happens when a GPU powerhouse hooks up with a mining OG? No, it's not the start of a joke—it's the $1.6B CoreWeave–Core Scientific merger, and it's got everyone from Wall Street suits to hash-maxi diehards perking up. This isn’t just a marriage of convenience—it’s a signal flare for the AI-mining crossover era. Let’s dig into who’s getting the better end of the deal… and who might’ve just hitched a ride on a rocket ship.
Today’s Report
Core Scientific & Crypto Miners Slide After CoreWeave $9B Takeover Deal
🚨 Our Report
CoreWeave—backed by Nvidia—will acquire bitcoin miner Core Scientific in a $9 billion all-stock deal valued at $20.40 per share (~66% premium), signaling a major pivot toward AI infrastructure. Core Scientific stock cratered ~22%, while broader crypto miners also dropped. Jefferies confirms the price fits their $16–$23/share range.
🔓 Key Points
All-stock deal at $9B: CoreWeave offers 0.1235 of its shares for each Core Scientific share, consolidating infrastructure assets and slashing $10B in lease obligations.
Stocks react sharply: Core Scientific plunged ~22% to ~$14, reflecting market concern; peers like HUT 8 and Cleanspark also slipped ~7% .
Jefferies supports valuation: Deal price aligns with its prior range, while Cantor and others argue infrastructure value could push Core Scientific toward $30/share.
AI boom fueling consolidation: Both have pivoted from crypto to AI/HPC. CoreWeave gains ~1.3 GW of power capacity; expects $500M in annual savings by 2027.
🔐 Relevance
This deal crystallizes a broader trend: crypto-mining firms repurposing costly energy assets for AI compute. It’s not just a consolidation—it’s a play to dominate AI data infrastructure. For investors and industry watchers, it marks a shift in strategy from speculative mining to stable, high-performance computing.
Bottom Line
CoreWeave is sweeping up Core Scientific to own the power lines and data centers AI needs. It's trading bitcoin rigs for chips, and the market’s spooked: miners are sliding, while investors debate whether the deal price is bargain-tier or a steal of AI-age infrastructure.
Today’s Top News
Headlines
WhiteRock Finance founder arrested in UAE over ZKasino fundraising scam — Ilham, linked to WhiteRock Finance, was arrested for orchestrating undelivered airdrop scams; the WHITE token plunged nearly 40% as extradition proceedings begin.
MicroStrategy halts Bitcoin buys after record Q2 gains — Holding 597,325 BTC, MicroStrategy paused purchases for the first time since March after a Q2 unrealized gain of $14B. They introduced $4.2B in preferred stock potentially earmarked for future Bitcoin buys. Michael Saylor urged holders to “HODL.”
Bitcoin ETF inflows top $600M in record session — On Thursday, Bitcoin ETFs saw $601.8M in inflows—the largest single‑day haul since May. Leading the charge were BlackRock’s IBIT and Fidelity’s FBTC, as investors positioned ahead of U.S. fiscal policy moves.
Two 11‑year‑old Bitcoin wallets move $2B, no sell‑off signs — Whale Alert spotted two wallets from 2011 moving 20,000 BTC (~$2B) to unknown addresses. On‑chain sleuths saw no indications of profit‑taking.
UK pension funds dial up Bitcoin exposure — Cartwright Pension Trusts reports UK pension demand for Bitcoin is rising after a 3% fund allocation returned 60% in 2024. They’ve begun educating institutions via annual reviews—even amid volatility concerns from skeptics.
Market Trendline
Price Action
Market Overview
Market’s playing it cool today—Bitcoin hovering just above $108K and Ethereum stalling near $2,560–$2,600. Not exactly fireworks, but beneath that calm surface, there’s some real action brewing.
Bitcoin is range‑bound between $107.6K–109.6K, hardly budging intraday—a textbook summer snooze, but not without purpose .
Ethereum is consolidating near $2.57K with a technical setup hinting at a breakout, especially after it successfully flipped $2.5K to support .
Total market cap is cruising near $3.3T, quietly building position as FOMC minutes and US tariff deadlines loom.
Notable Movers
Bitcoin (BTC)
Intraday volatility is near record lows, pushing volatility-linked options into bargain territory.
Institutional flows remain strong—spot ETF inflows above $769M last week and looming Senate crypto bill timelines into September are fueling optimism.
Ethereum (ETH)
Formed an inverse head-and-shoulders on short-term charts—classic breakout formation aiming at $3K+, maybe even $4K this summer
On-chain whispers suggest it's a bargain—big money stacking ETH ahead of next major “Fusaka” upgrade and continued stablecoin issuance.
Dogecoin (DOGE)
A surprise surge of +5%, arguably driven by renewed retail interest as BTC nears ATHs. Not a blue-chip bet, but worth a watch.
Mid‑caps/DeFi tokens
Select coins like AVAX, SOL, LINK, XRP showing decent relative strength, though others like ADA are lagging—capital’s choosing winners .
Warning sign: small‑cap tokens such as SOON, BMT, CHESS plunged ~37%—reminder that summer lurkers lurk .
Macro View
Regulatory tailwinds: Senate targets Sept 30 for a market-structure framework, boosting institutional enthusiasm .
Fed uncertainty and tariff headlines: Softer inflation, talk of rate cuts, and looming tariffs are nudging capital from equities to crypto—classic hedge repositioning.
On-chain signals: ~$240M in BTC/ETH outflows from exchanges in 24h—smart money moving to custody or DeFi, not just speculation .
Bottom Line
Market’s in trading range mode, not chaos—quiet accumulation is underway. BTC/ETH holding key levels with institutional flows running strong, setting the stage for a potential breakout once macro clarity hits. But crypto’s still a minefield—DYOR and size positions accordingly.
Today’s Top Tweet
Crypto Twitter Never Sleeps
🚨 BREAKING: 50K ANCIENT BITCOINS JUST MOVED
A jaw-dropping 50,000 BTC, each over 10 years old, was moved today in a single day, smashing the previous record of 3,700 BTC.
These aren’t just any coins.
Many are tied to early miner block rewards from Bitcoin’s infancy, waking
— #Mario Nawfal (#@MarioNawfal)
4:53 PM • Jul 4, 2025
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