Two Seas Capital described the valuation as "inadequate" and urged other Core Scientific shareholders to also oppose the deal.
The move follows an abundance of companies engineering ways to pursue the Bitcoin treasury model pioneered by Michael Saylor's Strategy.
President Trump's eldest sons have an approximately 20% stake in American Bitcoin through American Data Centers.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Hyperliquid Strategies is expected to hold 12.6 million HYPE tokens and $305 million in cash at closing of the deal.
CoreWeave has entered into a definitive agreement to acquire Core Scientific in an all-stock deal worth about $9 billion.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The acquisition positions CoreWeave among the largest holders of U.S. data-center power at a time when demand for AI compute far outstrips supply.
In June 2024, the firm offered approximately $1 billion to purchase Core Scientific, which rejected the bid.
Involved parties have raised $516.5 million in equity and $235 million in convertible notes, according to a statement.
Anthony Pompliano is expected to lead a public company seeking to raise $750 million for Bitcoin purchases, the Financial Times reported.
The acquisition helps Robinhood expand outside the U.S., accessing Bitstamp's customers across the EU, UK, and Asia.
Hong Kong-listed OSL Group has agreed to purchase a 90% stake in Evergreen Crest, which runs an Indonesian crypto exchange.
Robinhood generated $141 billion in crypto trading volumes in 2024, while WonderFi generated trading volume of around $2.5 billion.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Earlier today, Coinbase agreed to acquire crypto derivatives exchange Deribit in a record $2.9 billion deal.
The "reverse merger" will allow investors to exchange their bitcoin for equity, a “tax-free” transaction under Section 351 of the U.S. tax code.
House Republicans unveil discussion draft of crypto legislation bill, and DeFi Development Corp plans to acquire a Solana validator business for $3.5 million.
The SOL validator business held an average delegated solana stake of about 500,000 SOL, worth around $75.5 million at the time of writing.
As part of the deal, Coeptis will acquire 9,000 Dogecoin mining machines in exchange for equity in the company.
Twenty One will go public through a SPAC merger with a $3.6 billion BTC treasury, the third-largest among publicly-traded firms.
Riot's pursuit of Bitfarms began nearly one year ago and eventually reached a settlement agreement in September.
23andMe, the genetic testing company that went public in 2021, announced on March 23 that it was filing for Chapter 11 bankruptcy.
The SPAC seeks to raise $179 million to fund its acquisition of a company in the crypto, blockchain or dual-use technology sectors.
Bitcoin miner Bitfarms completed the acquisition of Stronghold Digital in a stock-for-stock merger, further expanding its U.S. footprint.
Amber International Holding's stock began trading on the Nasdaq on Thursday after completing a merger with a public company.